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Wanting, Home Buyer in to Close

Executor won't close on home selling, other heirs questioning expenses. What can I do? It has been 6 months

Asked by Wanting, to Close Wed May 28, 2008

I made offer on home 6 mos. ago which was accepted. Pending all heir approval which happened. It has been one delay after the other. 1st. delay was one heir had to probate her husbands will (he died during all of this). Latest delay is apparently one heir has died and 2 new heirs think the executor has misappropriated some money. Executor claimed the title co. had agreed to close anyway, then let them figure out money disposition. Apparently Title Co. said no, so we are in limbo until money gets straightened out. This has been going on for almost 2 mos. I am tired of waiting. Is there any legal recourse or other way to force the close? I also recently found out that initially it took a long time to accept offer/set date was because they were waiting for 2 yrs. to be up as owner had been in nursing home and died. (this is a brief synopsis, there have been other delays as well)

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7
Absolutely contact your attorney. Decide if you want to move on or continue to try to get title to this property and get legal assitance in moving towards that goal.
0 votes Thank Flag Link Wed May 28, 2008
Jed Lane; Fog…, Real Estate Pro in San Francisco, CA
MVP'08
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WOW... sorry to hear that when I am involved as the real estate agent I Q & A the listing agent and determine if all the facts and etc are straight... if not it can could be a huge mess. What does your contract state for closing if they don't close on the contract date YOU MIGHT be able to have your earnest money returned. It appears it will continue I don't know all the particulars therefore I prefer not to make any additional comments.

http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Wed May 28, 2008
Take JR's advice. I'll add though that you should use an attorney who specializes in real property law. If your attorney thinks you can walk with your earnest money, just the prospect of loosing the sale may bring the heirs into line. You should however be ready to walk if you can. You may also want the attorney to write the amendment to the contract that you will use to effectively give notice to the sellers that their delays have exhausted your patience.
0 votes Thank Flag Link Wed May 28, 2008
1. First make friends with your title company. See what they say and see if they have any advice.
2. Talk to the seller's agent. Indicate your interest in getting it closed by the end of the month.
3. If all that fails, tell them you are going to get an attorney to take legal action and that they will likely have
to pay both your and their attorney fees and all the heirs will likely get less money. Money (or loss of money) is typically a good motivator to the person holding out for more money.
4. Then follow through with the threat...get an attorney and force them to close.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Wed May 28, 2008
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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Welcome to the world of dealing with multiple heirs selling property. Consult your attorney.
0 votes Thank Flag Link Wed May 28, 2008
What does the contract offer from a time perspective? I would consider getting out of the contract.

Delays like this are out of your control when all you want is to buy the home. There are so many legal interpretations here that it would be virtually impossible for anyone that is not directly involved with your contract to give you any advice. I hope you have a realtor who can explain your rights as the consumer. You do not want to force a close that could have any lien issues. The title company is your best avenue for any concerns relating to title. You want to make certain you have clear title so I can appreciate the title company requiring all financials to be reconciled as this is in your best interest.

If you feel the need or desire to move forward with this transaction, consult a real estate attorney. Your title company can recomend an attorney for you. If you have invested any monies, ie.. earnest money, option fee, inspection, appraisal etc... you will want to recover anything that your contract provides for. I apologize for not being able to be more specific however, this sounds like a legal tangled web that only an expert can provide the resources you need.

Please let me know how this works out for you. I am interested from a learning experience angle to see what the outcome is after all is said and done.

Best of luck to you!

Lucy Puniwai
0 votes Thank Flag Link Wed May 28, 2008
If you have a valid Contract you can file (in Florida at least) a specific performanc suit to require that the seller close as signed to. The attorney should file a lis pendens or its equal to stop any other transfer until the court hears your case. Warning, it took me over a year to get there in mine. Dr. Money in Fl
0 votes Thank Flag Link Wed May 28, 2008
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