San Bernardino seller Craig Watkins has just signed a contract to sell his home of 13 years to buyer Ivedale Bosch, who has recently moved to California from Montana. The contract has met all the necessary requirements, and all inspections and other mandates have gone along as expected and as agreed to until one week before closing, when Craig decides to back out. However, he understands that he could face legal action by Ivy; so he offers to sell her another house he owns and has rented out for the past few years, in lieu of the San Bernardino one promised. The second home is worth $15,000 more than the originally contracted one, and has an extra bedroom. However, Ivy isn't interested, because she wants to be close to her elderly mother, who lives in a San Bernardino retirement complex. Craig refuses to complete the sale on the original home. Which of the following statements is true of this situation?

Question

Social Studies

John Snow

21 October, 12:34

San Bernardino seller Craig Watkins has just signed a contract to sell his home of 13 years to buyer Ivedale Bosch, who has recently moved to California from Montana. The contract has met all the necessary requirements, and all inspections and other mandates have gone along as expected and as agreed to until one week before closing, when Craig decides to back out. However, he understands that he could face legal action by Ivy; so he offers to sell her another house he owns and has rented out for the past few years, in lieu of the San Bernardino one promised. The second home is worth $15,000 more than the originally contracted one, and has an extra bedroom. However, Ivy isn't interested, because she wants to be close to her elderly mother, who lives in a San Bernardino retirement complex. Craig refuses to complete the sale on the original home. Which of the following statements is true of this situation?

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Answers (1)

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Gilbert Jefferson · Answer 1

Craig Watkins can not force Ivy to buy the other house but since the other house is bigger than the first one, Ivy can also not take a legal action against Craig.

Explanation:

The house that was offered first by Craig Watkins for sale was canceled and he decided to back out from the deal. But since there was fear of a legal action by Ivy, he decided to offer another house to Ivy. But the other house that was offered did not fulfill the agreement and the requirements of the buyer.

But still he can not take any legal action against the seller because the new house that has been offered is comparatively a bigger one and has more value than the previous house. So this avoids the fear of any legal action. But still the seller can not force the buyer, Ivy to buy this new house and continue with the deal.