AS you are aware, real estate sales and purchase can prove to be highly complex.
Involve a couple of banks, distress sale, and a tille issue and you now have a VERY complex situation that will require professionals to resolve.
Many pruchase contracts allow a contingency that allow the buyer to secure financing as a condition of the contract. If your lender failed to provide you funds to purchase, FOR WHATEVER REASON, you did not fullfull this contingency and unless properly addressed, your purchase contract will have EXPIRED. In esence....you have no right whatsoever to the subject property.
There is a MOUNTAIN of essential information regarding this that you have not provided. Since none of us have access to this data, you MUST direct your question to your real estate professional who does have access to this data.
Can you take legal actions for not notifying us first?
You can sue for ANYTHNG? Do you have a snowballs chance in Florida of prevailing...NO!
While it appears somebody was lazy by not contacting you for the sale. Save your money for something worthy or forget about filing a law suite. In the end what will you gain. Trust me from my experience the legal system move very slowly and attorneys are expensive. In the instance you are better off placing the money that you would be spending on an attorney into a great property.
I think what you really want to know is "do I have a case?"
Probably not. I'd save your money.
I am NOT an attorney and this is NOT legal advice.
It seems likely the seller just sold the property at a lower price to a cash buyer who can take it as is and isn't as much of a hassle as a financed buyer.
Sohail A. Salahuddin | Founder and Team Leader
Innovative Property Consultants Group | Sales and Leasing
Jameson Sothebyâ€™s International Realty
425 W. North Ave. | Chicago, IL 60610 â€¨
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