From the advice of one of our preferred Attorneys, Mr. Chris Combs of Combs, Gottlieb & MacQueen, P.C.:
Builder Wants To Sell For Higher Price To Another
Question: One year ago we signed a homebuilder’s contract to build a $1.2 million Peoria home for us. This home is now built, but the homebuilder’s sales representative refuses to talk to us about a close of escrow date. This home has appreciated in value to $1.6 million, and we think that this homebuilder is trying to sell our home to another buyer for a profit of $400,000. How can we prevent the sale of our home by the homebuilder to another buyer for $1.6 million?
Note: Under the AAR Purchase Contract for resale homes, however, a buyer is allowed to file a lawsuit against the seller for specific performance of the AAR Purchase Contract and to record a Lis Pendens. The seller and the buyer must then go to mediation before proceeding with the lawsuit.
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