Being right down the street at the Barnstable village Robert Paul office I have found this new market very convenient. We get a fax every morning of their hot food items that are prepared fresh. I had lemon baked cod the other day and it was delicious!... more
What a shame. If you look around Cape Cod you will notice numerous abandoned buildings. Why not just do an overhaul? It's not like there isn't enough space. Has Borders been filled yet. Growth management shuns the one build able lot in favor of now 2 acres or more. How about making businesses reuse already created business space?... more
First, does your contract have a closing date specified that has passed? If so, have your lawyer write a letter to the seller's lawyer advising them that they are in violation of the contract and you are prepared to close immediately. Although I'm not sure in MA, in many states this starts a clock ticking where the sellers have to close within 30 days. I know that doesn't help much if you want to close right now, but you need to start the clock ticking. Talk to your lawyer and see what he or she advises.
You should be incontact with your attorney handling the purchase for you. They can give you your legal options available to you. You could also consult with your buyers agent to see what in their experience could work in this situation. There are alot of details contained in each purchase and sales contract to address a miriad of situations. This is where professional representation really comes into play. Not with the run of the mill transactions but in cases like this where there are multiple transactions all tied together and A has to go to B and B has to go to C and so on and so forth. If you are working with a real estate professional and/or attorney their years of experience will be of great assistance in guiding you forward over these hurdles.
Without specifics it's unknown what options are available to you, sorry couldn't be of greater assistance,... more
No, I believe you can walk. ANY offer you present is not a valid contract until your offer has ACCEPTANCE. Therefore, submit a written request to withdraw your offer... that the contract is now null and void. I am not an attorney but this is my absolutely understanding of the law.
Now, of course, a contract is a contract. If you signed language that offered to wait IN ADVANCE of your submission of this offer, then you could experience difficulty. However, your December 22nd date has come and gone, so I believe you can then withdraw and cancel the contract. Still, hire a good attorney. Did you submit earnest money yet? Additionally, foreclosures have oodles and oodles of unknown problems... it should not require much effort from your attorney to defend your decision to withdraw and cancel. After all, everyone has a right to an inspection immediately upon acceptance and you should be able to cancel based on the inspection- that is, if the foreclosure comes with repairs and other poor condition issues.
Again, I am NOT an attorney. This is an opinion only. I still remain confident and I encourage you to get the opinion of a licensed attorney in Alabama! (smile)... more
You might look into having an "investigative journalist" from one of the news outlets inquire & thus exert some pressure on the lender to get things closed. I'm sure that it would make for an interesting local interest piece on how lenders are working out the property logjam. You might also ask your local representative to contact the lender on your behalf.... more
We would suggest contacting a local Realtor on the cape. The Realtor can give you a list of rentals and also homes that are rent with an option to purchase. If you would like, we can refer you to an Prudential Realtor on the cape - it's a free service that we provide.
Bob & Richelle Ward
Prudential Connecticut Realty
Whether you are entitled to a refund of your escrow payment depends on timing and actions adhering to the contract language. What time frame was allowed for you to obtain the mortgage? Typically, this is 5 days to apply and a total of 30 days for loan committment. Then you must also inform the owners in writing that the mortgage was rejected. Did you meet this time frame? Even if you knew in time, you would still have had to inform the owners in writing. Read the contract carefully to be sure that you followed the guidelines.... more
A town's assessed value can vary from an independent appraisal company. I've seen sales both above and below a town's assessed value. Sometimes, if the house hasn't sold in 20-30 years the assessment is a bit low. In this market, we have been recommending to our client to obtain an independent appraisal for the home's value. Values will vary based on many factors including but not limited to condition of home, square footage, and neighborhood.... more