Do you have a contract signed by the seller in your possession? If so, then consult with an attorney regarding filing an action for specific performance or damages. This would compel the seller to sell the property to you or pay you $$$. Your recourse will depend on the terms of your contract.
The above is very basic! You need an attorney to conduct a detailed analysis of your situation and advise you accordingly. I really hope you are able to consult with an attorney before your scheduled closing date. Good luck!
Robbie L. Vaughn, Esq.
New York Attorney
Real Estate | Foreclosure Defense |
Bankruptcy | Landlord-Tenant Matters
70 West Main St.
East Islip, NY 11730
We are a debt relief agency and a law office that helps people file for bankruptcy relief under the United States Bankruptcy Code.
This is not legal advice.
No one asked the question including myself.
I did check the county records (on line) and up until Monday there was no information with regard to the property being sold on the court house steps. All it showed was the last sale in 2005. An investor (his wife's company) actually bought the property on the court house steps and his (husbands) company listed it for sale but didn't inform us of the recent purchase. My agent told me it was a foreclosure and thats how my broker proceeded which doesn't require a seasoned title.
The other part of my frustration is how much my broker dragged his feet. I had to keep pushing him while all the wile he said we would be fine. Hell, I didn't even get a good faith estimate until this past Thursday after several requests.
My attorney hasn't been much help (besides taking my money) and the seller has avoided calls and emails since Thursday as we are pretty positive that he has a higher offer on the table just waiting for mine to fall through. Hence the reason for avoiding us. My agent sent him an amendment to change it to a cash sale 2 hours before the deadline (Friday at 7) but as usual hasn't responded and it is now Sunday. We are suppose to close by this Friday. I am told we should have an approval tomorrow but it is past the contract date.
If all else, is there any way he can keep my $5,000 deposit? I do not get a good feeling.
You might want to check out the latest Blog that I just read, written by Patty Da Silva. It is a change in the 90 waiting period. I'm not sure if it would help you on this transaction or not, but definitely worth looking at.