Home Buying in 60089>Question Details

Peggy, Home Buyer in 60089

We are going to suit both sellers and the broker since the sellers do not sign the cancellation notice, and release our earnest money. Is it true?

Asked by Peggy, 60089 Tue Jun 29, 2010

the property can not close if there is a lawsuit on this property? or we still have to record this property, and put a lien on this property, and the property can not be closed until the lawsuit is solved?

Thanks advance for all of your advices!

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Answers

6
Realtors are not Lawyers and should not answer legal questions. The best advice I can give is to talk to an Attorney that specializes in real estate.

Paul DiMaio
Web Reference: http://www.pauldimaio.com
0 votes Thank Flag Link Tue Feb 22, 2011
Also not sure what you are asking....take advice from your attorney that is handling the transaction for you
0 votes Thank Flag Link Wed Jul 7, 2010
You should check with your agent and follow their advice or better yet the advice of the attorney you used on the transaction. I wouldn't do anything without consulting professionals. Good luck!

Mike Stodola
0 votes Thank Flag Link Tue Jun 29, 2010
You need an attorney. No one here can give you advice based on the few facts you've presented.
0 votes Thank Flag Link Tue Jun 29, 2010
I'm not sure what you're saying.

Are you saying that the sellers didn't sign the earnest money release and they're not giving you, as the buyer, back the earnest money? So now you're going to go after them legally and you think they won't be able to sell the home?

Well, you need to consult with an attorney first. You're earnest money will be given over to the State after 6 months, I believe, and it will take a while to go through the process.

My question is... Why did the deal fall through? That may be the main issue here.
0 votes Thank Flag Link Tue Jun 29, 2010
not sure what you are asking here, if there is a lien against, the title co cannot issue a free and clear title, which is what every lender is looking for, therefore, if there is a lien, the lienholder may have first place position if the property is foreclosed on, and no lender will allow that, so sometimes you have to be the lender, and pretend its your money, would you loan with this situation, I surely wouldn't . Sometimes brokers don't know that there is a lien against property till title search has been done, and that is why you now have the wrench in the wheel... I am not a lawyer, but I would think that a sellers agent or the seller, would kindly resolve this problem and release it, or kindly release the earnest money... hope this helps you.
0 votes Thank Flag Link Tue Jun 29, 2010
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