Dallas Real Estate- Specific Performance
By Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator
(Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com)
Within an executed contract, the seller has agreed to sell their home, with no way out of the contract. That's called Specific Performance, as they must perform their end. However, the buyer has a way out almost every time as you can just claim something about financing. Or if they default, the earnest money would revert to the seller. Buyer can always back out, seller cannot.I'm in a situation right now where we're having appraisal issues, and the seller is wanting to terminate the contract so an appraisal is not stuck on their house, so they can still turn around and sell to another buyer willing to over pay for the house. We have had 4 appraisers look at the house, and the final appraisal we're accepting is from an appraiser that the listing agent picked!! It's not even a buyer...
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