Father has rental duplex (childhood home in a trust) middle child brought offer to father to sell property well bellow market value to friend I made a
Question Details: Father has rental duplex (home is in a trust) middle child brought offer to father to sell property well bellow market value to friend. I made an offer that was $5k better and it was excepted. The other buyer made an offer that was agreed upon, papers were drawn up & signed by potential buyer a deposit check was given to attorney but father did not sign papers because he agreed to sell to me for a better price for the estate. Other buyer threaten lawsuit, my father being 85 years old felt he had no choice but to sign because he does not have the energy or maybe time for LS. Any options for me
Real Estate Law Answers
If Father is competent, there's probably very little that can be done about this, unless Father signed papers for your offer before signing those for the other buyer.
Contracts for the sale of real estate have to be in writing; in the overwhelming majority of cases, anything that's not in writing "isn't worth the paper it isn't written on." Your father didn't need to give in to those threats, I don't think (without knowing more), but now that he's signed the contract, it's binding. The threat of a lawsuit alone doesn't usually qualify as "duress" under the law.
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