Foreclosure in Raleigh>Question Details

Chukp, Home Buyer in Clayton, NC


Asked by Chukp, Clayton, NC Thu Sep 17, 2009

I recently made an offer to purchase a bank owned home. The offer was countered, we accepted, and things were moving towards closing. Today I get a call from my lawyer saying she found something that would be a problem with the title. The bank had foreclosed on a dead woman. Instead of foreclosing on the heirs as they are supposed to do, now the whole process has to start all over again with the home going back through the foreclosure process before we can buy it. My lawyer also said they did this knowingly, as there was a death certificate attached to the foreclosure paperwork. My question now is, are there grounds or a lawsuit against the bank for misrepresentation and or fraud since they were knowingly trying to sell us a home that was not legally theres to sell and they entered into a signed contract with us to sell us this home?

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You would definitely have to consult a lawyer but in a lawsuit there must be damages, and I dont know that you would be able to prove that there were any damages since the sale did not happen.

It seems like a bad situation but also since they didnt accept your money or anything it may be hard to show that you were damaged in the transaction.

Ask your Lawyer that you are working with !
0 votes Thank Flag Link Tue Dec 17, 2013
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