Hello All,
Last year May,06 , I signed a contract to purchase 18 acres of land. There has been a problem with getting the title cleared completely, but we have been patiently waiting. We have extended the contract several times to allow the title to be cleared up. The current contract is to run out on Dec. 31, 2007. I recently asked to extend the closing date again, but the seller says she won't do it. Her lawyer has been spinning his wheels for the past year with little progress or results. What do we do now? We really want the land. We are willing to wait longer. All we are asking is to extend the current contract until it is ready. In the time since I signed the contract, the value of the land has gone up at least 30%. She says that after the contract runs out and she finally clears it up, she will give us the first shot at buying it then. I am afraid she will also be asking more for the land.
Any help would be appreciated.
1. What is the next step?
2. Can we sue for specific performance?
3. Can we sue to extend the contract?
Thanks,
scott
Last year May,06 , I signed a contract to purchase 18 acres of land. There has been a problem with getting the title cleared completely, but we have been patiently waiting. We have extended the contract several times to allow the title to be cleared up. The current contract is to run out on Dec. 31, 2007. I recently asked to extend the closing date again, but the seller says she won't do it. Her lawyer has been spinning his wheels for the past year with little progress or results. What do we do now? We really want the land. We are willing to wait longer. All we are asking is to extend the current contract until it is ready. In the time since I signed the contract, the value of the land has gone up at least 30%. She says that after the contract runs out and she finally clears it up, she will give us the first shot at buying it then. I am afraid she will also be asking more for the land.
Any help would be appreciated.
1. What is the next step?
2. Can we sue for specific performance?
3. Can we sue to extend the contract?
Thanks,
scott
