Sold our home privately

[ewaskos]

We sold our house privately. The contract we did up with the purchaser was, they agreed to pay us $640,000. They took possesion of the home on July 1/08 stating that they will pay us $640,000 when there home sells,but vacated there home and moved into our home agreeing to pay us $1000.00 month with them residing in the home until there proir home sells. Now after 6 months and the market slowing down they say they are moving out of our home and defulting on the purchase contract. Can they do that or are they obligated to pay us the $640,000. they agreed upon?

 

[doubletrouble]

You need to consult a real estate attorney immediately.