Reply to A question for agents and others re the legal position as it pertains to the closing date

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[quote=Anonymous][quote=Anonymous]Now that the OP has offered additional details we know there is an addendum which may give flexibility to the seller as to when possession must be given to the buyer. This is the reason I said you can't opine on the seller's rights - or the rights of the buyer - without reviewing the entire contract. The seller was constrained as far what was shared and anyone with half a brain could tell there was information that had not been provided.

As far as the "best efforts" clause is concerned, it is a very complex area of the law and it depends on the specifics and details that are within the clause. An overly broad clause is likely to be problematical.

Contract negotiation is often predicated on the leverage that the parties to a negotiation have or think they have. IMO, the final resolution will be some sort of compromise. It appears the seller is seeking a rent-back and that will likely be granted. It really would not serve either party's interests to litigate this both from a standpoint of cost and ultimate outcome. [/quote]

Op said clearly that the relative is not interested in a rent back, it is interested in selling the property to a higher bidder. this is why I do not understand what trick OP's relative is planning to play.  I have not read the contract, but from what OP says it seems that there will be a closing where the property will pass from the seller to ther buyer. the "best effort" clause simply may give OP's relative a ground not to completely vacate the property after closing, but the property will not be his anymore (and the buyer owns it and may move in too). how in this scenario is OP's relative able to see an opening to void the contract and sell the property to the higher bidder? is OP's relative planning to stay in the house so the buyer will have to pay extra to get rid of him? and this is a high end property?? I can imagine the show for the high end neighbors............. at most the buyer can flip the property to the higher bidder, still with OP's relative inside............[/quote]

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