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Cold Feet II

Posted by Edward C. Ip | Oct 03, 2013 | 0 Comments

In part one, I mentioned that there are several pitfalls which can upset an attempt to complete the purchase of a home in the face of a seller who's trying to bail out on the transaction. If you're seriously committed to the purchase, make sure an attorney carefully inspects the purchase and sale agreement, even if it appears to be a standard form. There may be "fine print" conditions inserted into the language which can catch you out as non-compliant and give the homeowner an out if you haven't met them. Additionally, ensure that any time limitations in the contract have been met - if you haven't secured a home loan within a specific time frame, the contract may be invalidated. Have your ducks in a row from the beginning.

In California, the majority of home sales are conducted using the California Association of Realtor's standard purchase and sales form. In accordance with the CAR format agreement, you must demand to mediate the dispute to preserve your claim to attorney's fees.

About the Author

Edward C. Ip

Edward Chi Ip holds an extensive amount of experience dealing with civil litigation in the fields of real estate and construction law. As the head of the firm, Mr. Ip leads a team of experienced attorneys in strategizing winning game plans when it comes down to ensuring the satisfaction of every ...


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