Home Buying in 07024>Question Details

Isabel, Home Buyer in Fort Lee, NJ

Mrs:Debbie Rose.I'M the buyer,have a Realtor,have a contract,have a Lawyer,pay the 10% DP and the Realtor now told me that they want soon rent

Asked by Isabel, Fort Lee, NJ Sat Oct 10, 2009

the condo but his laeyer may cash my DP. Isabel

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Hi Isabel, good advice from Debbie - my advice is to follow hers!

Good luck to you - I too am sorry you are in an upsetting situation. Get to your attorney pronto - all problems have solutions - you need your attorneys help to solve this one.

Jeannnie Feenick
"Unwavering Commitment to Service"
Search the MLS at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Sat Oct 10, 2009
Hello again Isabel

From what I have just read, I am still a bit confused, but it is clear you need to speak to your attorney right away. I am surprised your agent hasn't advised you to do the same.

Unless there is part of this situation you haven't shared, I don't see how the owner can go ahead and rent out the condo if you have a fully signed sales contract . Did you have an attorney review?......an inspection?......do you have your full mortgage commitment in place? Is there some issue or problem about you being able to complete the purchase? Again, there are things that aren't clear to me.

I also can't see any lawyer simply cashing in the escrow (deposit) money.....that would be illegal, unless, again, there is a part to this story that I am missing. Do they feel you are in breach of the contract? Have you been given any reasons for the seller to act this way? What has your agent told you about this situation?

I can't give you legal advice, no one can.....and that is exactly what you need right now.

Call your agent today, and ask for a better explanation of what is going on, and CALL YOUR ATTORNEY Monday morning.....he is the only one who can help you understand what is happeneing.

I am sorry that I can't be of more help................I hope all of this works out well for you. Please keep me informed. I am so sorry you have found yourself in a situation that is confusing and upsetting. I am sure your attorney can help you understand what is happeneing and find a solution.

Best wishes
Debbie Rose
Prudnetial NJ Properties
0 votes Thank Flag Link Sat Oct 10, 2009
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