Asked by Wantahouse, Long Beach, CA • Sun Apr 19, 2009
In escrow on a bank owned prop. Seller is the bank and accepted my offer in writing. Loan is FHA and approved with bank's preferred lender. Appraisal report completed. FHA requires seller to complete unfinished attached unit to garage. 30 day escrow expires in two weeks and very likely it wont' get finished. Can bank/seller legally reneg by not wanting to fix the work? My realtor/listing agent hope to hear from bank within the next few days. What are my legal recourse if bank backs out or drags beyond the 30day mark even if lender will extend rate lock and escrow? Don't have extra money for an attorney.
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