@ezdriver wrote:I agree with startingove ... unless you signed an agreement stating that the seller can back out of the sales contract, you have until end of May to close. That said, I'd tell the seller to pay any fees for you breaking your lease earlier than already planned and only then will you consider accomodating their earlier date. Terms of already executed contract cannot be unilaterally changed.
Your Realtor should be fighting for you ... what their position on this?
No, none of the documents said anything about the seller being able to back out of the sales contract....at least to my knowledge. Okay you guys are starting to give me hope. My realtor is on my side on the issue, but when I spoke to her yesterday she made it sound like if we refuse to close earlier then we risk losing the house. But she made it sound anyone, both the buyer and seller could back out of the contract at anytime if they gave a "reasonable" excuse which didn't make a lot of sense to me. She said you can sue, but most people don't go thorugh all that trouble just over the EMD. But she said she will speak to the listing agent and present our side, basically fighting for us. We'll see what happens, but I just wanted to know the legal aspect of this. Thanks for all your help guys, really appreciate it!
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@DaveInAZ wrote:Well, anyone can back out of a contract, the decision rests on the consequences - will you likely be successfully sued? For a purchase contract for a house the seller or buyer very rarely sue, it's not worth the time & expense, and the seller wants the house back on the market asap and the buyer wants to buy another house asap. I once had buyers walk away for a really flimsy excuse, I got the impression they'd simply found a house they liked better and just changed their mind. I spoke with my realtor about keeping their deposit as they had been a real pain all along and he said while I may be in the right to keep their deposit he strongly urged me not to do that, saying my priority was to get the house back on the market & sold asap, and possibly being tied up in litigation over a couple thousand bucks wasn't worth it. I agreed, I told them here's your deposit back, now go be jerks to some other seller.
The buyer is the one in the driver's seat, and when you say "the sellers have been giving us problems throughout this whole process", I think their demand to change the closing date is even more unreasonable. And stupid, a seller should never antagonize a buyer, you accomodate them as much as possible because you want your house sold. If they continue to insist on the earlier closing date I would threaten to walk away, you will be entitled to full refund of your deposit as they are the ones trying to change a legally bindidng agreement, and if you walk away not only will they not get their early closing date, they'll likely be waiting months for a new buyer and new closing date. Hopefully they aren't that stupid. No matter how much you want the house don't let yourself be bullied by foolish, unreasonable sellers.
So anyone can back out of a contract and there are no consequences? This just doesn't make sense to me....so I have no protection if they try to screw us? We really want this house, we don't want to back out. Our area is a very competitive market and this house a great price.
@DaveInAZ wrote:
@b1gr3dmachin3 wrote:So anyone can back out of a contract and there are no consequences? This just doesn't make sense to me....so I have no protection if they try to screw us? We really want this house, we don't want to back out. Our area is a very competitive market and this house a great price.
No, I didn't say there are no consequences, I said the decision to back out of a contract depends on what the consequences are. And for a purchase contract for a home buyer or seller rarely sue or even keep a deposit as its rarely worth the time & expense and aggravation.
You need to have a better poker face. If the seller thinks you desperately want this house they will continue to be unreasonable. If have your realtor tell their realtor that you are really fed up over the seller's antics and are prepared to walk away, I'll bet you their attitude changes. I've actually done that, told my realtor I'd had it and was ready to walk away when actually I really, really wanted the house. And I got what I wanted. Look at it this way: Your buyer want to close a month early. If you say no deal, close end of May or no deal, they won't get their early closing, and no matter how competitive your market is they'll be wating past end of May for a new closing for a new buyer and they would be foolish to do that.Stand your ground..
I totally agree with you, and I have already spoken to my lawyer about the issue. He told me that with the signed addenudum by both parties stating the May 29th closing date,we will be fine. I've worked with him a lot in the past and I trust this guy a lot, he knows what he's doing and he's very good. He told me at the end of the phone call to pack and prepare for May 29th to move 
Again - thanks for all the responses and advice, I really appreciate!. I at least feel a little better now, that perhaps I still have a chance. I'll let you guys know how everything goes.