Buyer Breach Of Contract All Locations : Nationwide Real Estate Advice

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Victor Lozada,  in Bellevue, WA
Victor Lozada answered:
Purchase contract states buyer has to go through a specific loan agent. Can that be enforced under the law? ...
Is the wording that you have to close the loan with that particular lender or just pre-qualify with them? Here in WA, many new construction communities have a clause requiring pre-quali ... more
0 votes Share Flag Thu Oct 7, 2010 Financing in San Francisco
Dianne Scott, Real Estate Pro in Eustis, FL
Dianne Scott answered:
Hi John,

Until all parties agree to how the escrow deposit is handled, the escrow agent cannot disburse the funds. All parties must sign an agreement as to how the deposit should be ... more
0 votes Share Flag Thu Sep 23, 2010 Home Buying in Florida
Pacita Dimac…, Real Estate Pro in Oakland, CA
Pacita Dimacali answered:
Can a sellers agent disclose details of a buyers offer to outside third parties without permission?
That agent had absolutely no right to share information about your finances with anyone without your expressed permission. That constitutes a violation of our code of ethics.

That s ... more
0 votes Share Flag Fri Jun 29, 2012 Home Buying in Burlingame
JUDY BERG…,  in Phoenix, AZ
Is there a recouse to the seller for not fixing home inspection items that were ... contract? ...
You can elect to not fix the itmes, send it back to buyer and sww his answer. He could agree to somthing different or he could walk!
Have your realtor talk with buyer's realtor an ... more
0 votes Share Flag Fri Sep 3, 2010 Home Buying in Springfield
Annette Levi…, Other/Just Looking in New York, NY
Annette Levinson answered:
Why does the seller of a house care how much money is being put down when buying a house?
The seller cares because a the more a buyer is willing to put down the better a deal it is. They know that the banks look more favorably on an applicant that is putting more down.
One ... more
0 votes Share Flag Fri Nov 5, 2010 Financing in Holmdel
Thom Colby, Real Estate Pro in Irvine, CA
Thom Colby answered:
My home is going into foreclosure in Arizona, Can I or one of my relatives bid on it?

It is very unlikely the lender will allow the proeprty to be sold to the person who defaulted on the mortgage or any of their relatives.

Best of luck,

Thom Colby
Broker ... more
0 votes Share Flag Thu Sep 2, 2010 Foreclosure in Casa Grande
The Ocean's…, Real Estate Pro in Wall, NJ
The Ocean's Six Group answered:
Can I cancel my Short Sale if closing does not occur on closing date (August 31, ... contract? ...
At this point you have to seek your attorney as it all depends on what protections were in the attorney review letter or addendums to the contract to escape out of the deal based on dat ... more
0 votes Share Flag Thu Sep 2, 2010 Home Buying in Bayville
CJ Brasiel, Real Estate Pro in San Jose, CA
CJ Brasiel answered:
My REO Addendum requires TWO Deposits with HUGE potential PENALTIES! Please Help....

The most typical deposit on a bank owned property is 1%. The additional 25% deposit is not typical in my experience. However, this could be indicative of your complete down ... more
0 votes Share Flag Thu Sep 2, 2010 Home Buying in San Jose
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
Are you ready to close, was the short sale approved--do the tenants have a lease--keep in mind that until you close, the tenants are the responsibility of the current owner--what is you ... more
0 votes Share Flag Thu Aug 26, 2010 Home Buying in Lynwood
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
Without asking permission from the seller the buyers agent gave buyer permission to have electrical work done ...
What is your agent suggesting, and was he/she aware of the work being done beforehand--you may wish to consult with an attorney who specializes in real estate for any legal recourse--an ... more
0 votes Share Flag Fri Aug 20, 2010 Home Selling in Reading
Don Tepper, Real Estate Pro in Burke, VA
Don Tepper answered:
Do we need a new contract?
I'm not a lawyer, so this isn't legal advice. For that, you need a lawyer.

However, your statement that "Our contract is now longer valid as it is out of date" wo ... more
0 votes Share Flag Sun Aug 15, 2010 Home Selling in Orange County
Gail Davis, Real Estate Pro in Asheville, NC
Gail Davis answered:
I do not understand the words : Under Contract - No Kickout for a house that is on the market for a while.can ...
Hi Rika,
Under contract means that another buyer has put an offer to purchase on a seller's home, in writing, and the seller's have agreed to all the terms. It's "U ... more
0 votes Share Flag Tue Aug 10, 2010 Home Buying in Haymarket
Justin Mcent…, Real Estate Pro in San Diego, CA
Justin Mcentee answered:
Listing agents is asking to remove loan contingency. there are termite and sewer issues. is it wise to remove it?
In my opinion I would not have my client remove all contingies until termite has cleared and the sewer has been checked out. With termite companies it is very important to inspect the ... more
0 votes Share Flag Thu Oct 28, 2010 Home Buying in Oceanside
Paul Finholt,  in New Orleans, LA
Paul Finholt answered:
I am in the middle of a weird real estate deal.Cartus is selling the house. The lender says it is a flip, the ...
Well the question is, is it a flip? What are the circumstances that the lender is making this claim? I probably would consider changing lenders. Do not be concerned about the lenders ... more
0 votes Share Flag Tue Apr 26, 2011 Financing in New Orleans
Scott Miller, Real Estate Pro in Boca Raton, FL
Scott Miller answered:
We are 2 1/2 weeks in a 60 day escrow to buy our first home.It is tenant occupied. When will i see it in writing/escrow that house will be vacant?
Hi Randy. Two things: I hope you have an attorney to do your closing and advise you before you get to the finish line.

And, did you make sure there was language in your offer tha ... more
0 votes Share Flag Mon Oct 14, 2013 Home Buying in 90815
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
What's the Escrowee's power? (seller's attorney)
Your question can best be answered by your attorney--ask him or her--however, if you are in breach of the contract you forfeit the downpayment, unless the seller agrees to return.
0 votes Share Flag Sat Oct 9, 2010 Home Buying in 11228
Thom Colby, Real Estate Pro in Irvine, CA
Thom Colby answered:
I was in a purchase on a short sale house. I released all of my contingencies EXCEPT the loan contingen ...
Buyer -

If you have a loan contingency and you have a legitimate "Denial" from the lender you indicated you were going to use, you should be ok to cancel escrow and get yo ... more
0 votes Share Flag Sun Aug 1, 2010 Home Buying in Irvine
Terrence Cha…, Home Owner in Allentown, PA
Terrence Charest answered:
How does a seller cancel a standard agreement for sale of real estate in PA?
I am not an attorney nor have I ever played one on tv. You should consult an attorney or at the very least get with your real estate agent.

That being said, if the person can't ... more
0 votes Share Flag Mon Nov 19, 2012 Home Selling in Reading
Dp2, Other/Just Looking in Virginia
Dp2 answered:
What are my home-buying options in this scenario as a first-time home buyer?
If you're unhappy with your agent's service, then you should discuss that with your agent. However, if you're not getting anywhere with that, then you should approach hi ... more
0 votes Share Flag Thu Jan 9, 2014 Home Buying in American Canyon
Alan May, Real Estate Pro in Evanston, IL
Alan May answered:
the buyer of our home took us right up to one week before the closing date and backed out stating he found ...
that's an excellent question to ask your Realtor and/or your real estate attorney.

By one week prior to the closing date, the buyer should have been beyond all of his contingenc ... more
0 votes Share Flag Sun Jul 25, 2010 Home Selling in Utah
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