Can a sales price be changed after the fact?

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Can a sales price be changed after the fact?

About 2 years ago I purchased a home and the owner carried the papers. Now I am trying to refinance to get the home out of the sellers name. Escrow has opened and papers were sent to the seller who signed and returned them. The lender wants an appraisel done and the seller now says that if the home ends up a higher value then they are raising the sales price. Is this legal ?

Asked on October 1, 2012 under Real Estate Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If legal title to the home that you are writing about is in your name resulting from a sale that closed escrow several years ago where you bought it and the owner carried the paper as a seller "carryback" under the laws of all states in this country the seller cannot legitimately ask for a higher price from you. The sale has concluded. You own the property and are simply paying it off over time.


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