The Seller has made a commitment to sell you this property. I would suggest that you work through your agent to propose alternatives such as the seller getting a non-secured loan or a loan from a family member to resolve this.
If you are not off by that much, you may even want to offer to meet them half way if you are able.
Always know that you can consult an attorney for detailed contract advice.
Laura Roskelly, RealtorÂ® & Accredited Staging Professional
The Roskelly Team
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From the nature of your question it appears your home purchase is in peril once the title work arrived at the settlement company and the settlement processor determined the seller has to bring funds to the settlement table in order to "pay off" the existing mortgages and or liens.
The seller MUST pay off all existing liens in order to convey clear title. This should not happen if the listing agent does their job and prepares a sellers "NET" sheet showing the proceeds and or shortages of the home sale. In addition, buyers agents can access the "land records" in all Maryland counties and review the mortgage information and liens to be sure the home can be transferred to a new buyer.
Not knowing the amount of the sellers shortage may I suggest the listing agent/broker have the seller sign a promissary note with the listing agents broker to pay the listing side of the commission at a later date ( assuming the sellers shortage is LESS than the total $$ amount of the listing side).
If the sellers $$ shortage is higher,, a short sale may be an option if the seller qualifies or is agreeable to short sale. If not, you may have to move on to find another house.
Sorry this happened to you.
RE/MAX Realty Group