Buying acreage from big timber company in WA state. Raw land. Cash sale. 45 day feasibility. Feeling pretty good about things.
We are a week away from closing.
They paid for the survey as per the contract. Last week I hear from my agent that their agent says they want to terminate because the survey showed the corner of the property crosses the logging road on their adjoining commercial timber parcel. There is no easement.
"fuck you" is my first thought.
I look over our contract, no provisions that allow them to back out for any reason, let alone one such as this. Not only that, but the contract clearly shows the property line "to be hacked and blazed" by the survey, totally going over the road in question.
They wait a few days and send a termination agreement they want us to sign. No mention of the road. It mentions a paragraph in the contract that has nothing to do with anything. I start researching.
Talk to an attorney about suing for specific performance. He says yeah, it's totally cut and dry, they have no standing, completely in breach... but it could take years and cost upwards of 50k if they don't play ball. Obviously if it goes to trial and I win, I get my fees paid. But there's always a risk.
Here's the thing. I have money and time. This is raw land, I had no illusions about there being short term results anyway.
Now when I look at the map, there's no other road that accesses this huge area of their timber land... like 100's of acres probably. I imagine that building another small section of road would be a huge, expensive hassle. Permits, engineering, excavation and the road itself.
They tell my agent today that they would be willing to sell it still... if they can change the property boundary (could take months from the county) to not only remove the road but a buffer.
I'm not kidding, these people have been such a ridiculous pain to work with. Any simple request, no matter how small, they made difficult and time consuming. Anything we asked for, they denied.
I want to hold their feet to the fire. I want them to knock off 40% of the asking price to change the boundary, or get an easement. I want them to put it in writing that they will approve a setback change so I can build anywhere on the property I'd like. If not? Fine, I will sue you for specific performance and you can sell me a corner of your road. And my offer for an easement will stand.
Obviously I'm not asking for legal advice... but what am I missing? I understand that trial is risky and they can drag this out and afford not to sell the property at all until forced. But if I have time and money, what exactly do I have to lose? Contractually, it's open and shut. Any thoughts?
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source https://www.reddit.com/r/RealEstate/comments/1gtcgvh/timber_company_trying_to_back_out_right_before/
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