Home Buying in 60056>Question Details

Rumen, Home Buyer in 60056

What to do if offer is accepted but the seller does not reply after attorney’s letter on home inspection?

Asked by Rumen, 60056 Mon Jul 28, 2008

My offer was accepted more than a month ago with closing date 07/31/08 (requested by the seller) but we still have not reached attorney approval. Can I do something to speed up the process? My lease is about to expire, can I sue the for damages if they keep dragging their feet?

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8
Rumen,
Obviously, communication seems to be the big issue here. My question is, who has direct communications with the seller? Is it just the attorney, or is there a real estate agent involved? I respect attorneys, but there are some cases where attorneys are "letter happy", meaning they just communicate by faxed letters.

SOMEBODY who has direct contact with the sellers needs to get on the phone and talk to them. If you have a real estate agent, ask them to make contact with the other agent and talk to the sellers. It seems like the sellers are the one who wants to close quickly, right? They wanted the 7/31 closing, correct?

If you sit around waiting for the attorneys to fax letters, you may be waiting for a long time.
1 vote Thank Flag Link Tue Jul 29, 2008
Unfortunately, you're in a tough position. I would recommend having your Realtor and Attorney light a fire and speed up approval period. Is this a short sale or foreclosure? If so, the bank (seller) may be taking time to determine penalties, amount owed, etc. That process can take up to 8 weeks or more. The only other thing would be if someone came in with a better offer than yours and are trying to irritate you out of the transaction. In that case, yes, there is a possibility to sue for specific performance. Make sure your ducks are in place (mortgage, down payment, etc.) and go after what you agreed to.
1 vote Thank Flag Link Mon Jul 28, 2008
If the home inspection fails there is no legal way to force you to buy the home. It does depend on the nature of the problems arising from the home inspections. A good negotiator can go along way but they should respond to your concerns.

If you need help with the mortgage, I can help. Our company works directly with Fannie Mae and Ginnie Mae and fund the loans in our name. We aren't waiting around on the big banks to approve the deal. We staff our own underwriting department and get things done quickly. You can call me at (630) 639-1081 and I can give you a preapproval the same day and help you find a quality realtor in the area.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (630) 639-1081.

Brad Neumann
Sr. Loan Officer
Mobile Phone: (630) 639-1081
Email: bneumann@myccmortgage.com
3130 Finley Rd. Suite 510C
Downers Grove, IL 60515
0 votes Thank Flag Link Tue Oct 8, 2013
Your realtor might be able to gain some visibility on the process by contacting the seller's realtor and requesting a status update. You might confer with your attorney to determine if it would be appropriate for your attorney to request a status update from the seller's attorney.
0 votes Thank Flag Link Mon Sep 24, 2012
This is a question that can be best answered by your real estate attorney.
0 votes Thank Flag Link Mon Jul 28, 2008
i suggest that you should look to your attorney for guidance in this matter.

that said, your only leverage to make things happen quicker is to threaten to terminate the contract if the issues are not resolved by (whatever "drop dead" deadline you care to set).

the alternative is to simply "give in" to the other side on whatever issues remain unresolved.

as for suing the seller for foot - dragging, anyone can sue anyone else for any reason. the real issue is whether or not you have a chance of "winning" the court case and whether it would be worth the bother/expense. from what you are describing here, i do not think you will get a judge to order the seller to pay you damages, and even so, it probably would cost more in money and time that would be worth while.
0 votes Thank Flag Link Mon Jul 28, 2008
Hi Rumen-
Negotiating the contract is different than negotiating home inspection issues.

From what you've stated, you had a negotiated contract as far as the sales price, but, had a home inspection completed and were in negotiations for the home inspection issues. (Different negotiation-often happens simultaneously)

When communication stopped.

That could be a serious issue. It could be perceived that this contract is null and void. (In other words, they have stopped negotiating) Or if nothing else, voidable. (Possibility of contract being voided.)

You must request clarity.

Are you working with an agent? How long has it been since you submitted home inspection issues? Do you have an attorney? Ask your attorney to request a status.

It almost sounds like this is a home sold in as-is condition, no home inspection issues included, or won't be addressed.

If all else fails, They will ask you to go to a mediator before you would be able to sue. You need to plead your case and make sure that the situation is not fixable. It could be merely miscommunication.

The bottom line is this, what the seller has to offer, he is willing to convey it to you at said price. That means full price offer. Anything else is negotiable, and if it's not a full price offer, they don't HAVE to sell it to you. They can refuse you as long as they don't violate ethics.

Hope that helps!

I know it's not a very nice answer but it is the truth.
0 votes Thank Flag Link Mon Jul 28, 2008
Rumen-

I generally concur will Bill's answer. Revisit the provisions of your contract that address the inspection process and timeline. In Georgia, inaction or lack of response/acceptance of repairs by either party within the specified timeline, in some instances, can lead to an automatically terminating contract.

Since today is July 28th, you may want to also be feverishly working on a contingency plan for temporary housing. Depending upon your agent's & attorney's advice, you may need to secure temporary housing and place your belongings in storage. Best wishes - Ted.
Web Reference: http://MyGeorgiaHomes.com
0 votes Thank Flag Link Mon Jul 28, 2008
Vicki Masell…, Real Estate Pro in Duluth, GA
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