Seller tries to back out on me (Live call) | Virtual Real Estate [PART 2] #paynelessflipping

Name: Seller tries to back out on me (Live call) | Virtual Real Estate [PART 2] #paynelessflipping
Uploaded: 2024-10-03T23:00:20+00:00
Duration: 47 s
Channel: Nathan Payne
Description: In this live call excerpt, the speaker explains that courts will not compel a homeowner to sell their property, even if a buyer threatens legal action…

3 Oct 2024 · 1 min

Watch on YouTube

0:47

In this live call excerpt, the speaker explains that courts will not compel a homeowner to sell their property, even if a buyer threatens legal action for contract compliance. While a buyer cannot force a sale, they can protect their interests by placing a lien on the property. This lien restricts the seller’s ability to sell to anyone else until the lien is resolved, effectively pressuring the seller to honor the original agreement or negotiate a new deal. The speaker also notes that sellers often back out hoping for a better offer, and that handling such situations—through understanding contract rights and lien options—is a routine part of virtual real estate transactions.

Chapters

They just don't let people out of contracts. So I mean, they're— I talked to them, they're like ready to, you know, sue if they have to for compliance and for— No, nobody's going to be able to sue to make anybody sell their house. That's just not a thing that's going to happen. And I know that and you know that. Yeah, well, I mean, I just talked to them. So this isn't me. Yeah, sure. A lot of the time sellers agree to something and they back out maybe because they feel like they can get more. So They handle this all the time. Now what's going to happen is if you guys decide you don't want to sell at all, that's completely fine, but they're going to possibly, they're going to put a lien on the property, which means if you do decide to sell it, you can definitely, you'll definitely be able to sell it to them, but you won't be able to sell it, you know, to anyone else. So