Owner trying to refuse to sell to me.

[leadarrows]

Received word today that financing to buy family farm has been approved. Sellers are my Dad and his sister. The sister,my Aunt has always hated me. Long story. Well she was fully aware that I intended to buy the farm from them and allowed me to believe she would agree to sell. Dad faxed the asking price to the mortgage company. She told my Dad that she never though I could come up with the money.Now that I have the money she is trying to back out.Not from selling the farm. Just from selling to me. It is public knowledge that the farm is for sale. It has not been advertised but my dad has informed me that there are other interested parties.
My question is that sense the farm is on the market can my aunt not sell it to me as long as I'm willing to pay there asking price? I live in Indiana if that makes any difference.

 

[charlesesq]

Received word today that financing to buy family farm has been approved. Sellers are my Dad and his sister. The sister,my Aunt has always hated me. Long story. Well she was fully aware that I intended to buy the farm from them and allowed me to believe she would agree to sell. Dad faxed the asking price to the mortgage company. She told my Dad that she never though I could come up with the money.Now that I have the money she is trying to back out.Not from selling the farm. Just from selling to me. It is public knowledge that the farm is for sale. It has not been advertised but my dad has informed me that there are other interested parties.
My question is that sense the farm is on the market can my aunt not sell it to me as long as I'm willing to pay there asking price? I live in Indiana if that makes any difference.

Sorry to tell you this but yes, your aunt can refuse to sell the property to you. YShe can sell it at a loss. Two things however:

(1) As your Dad is also a seller, he has a say in the matter as well and so he might not be willing to go along with the spiteful ways of your aunt.

(2) You may be able to use a "straw man" - a buyer who will purchase the home and then flip it to you.

So hopefully there is some light at the end of the tunnel...

 

[leadarrows]

Sorry to tell you this but yes, your aunt can refuse to sell the property to you. YShe can sell it at a loss. Two things however:

(1) As your Dad is also a seller, he has a say in the matter as well and so he might not be willing to go along with the spiteful ways of your aunt.

(2) You may be able to use a "straw man" - a buyer who will purchase the home and then flip it to you. So hopefully there is some light at the end of the tunnel...

Just in case your interested that is what happened. Another farmer / neighbor and old friend of my grandfathers did just that.
I know it's been a while but just wanted to say thanks for the response.