after signing all closing documents and told funds would be distributed later that day 3 days now and no funds buyer is stalling. what do I do?

Asked by Ansyb, 32828 Sat Oct 1, 2011

everybody appears to be on the level except the buyer. This was a cash sale and nothing has been recorded or keys given. The lawyer and the agent is trusted. What should I do?

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6
Jen Babacan, Agent, Fort Lauderdale, FL
Sat Oct 1, 2011
Hi Ansyb,
Do you have a deposit from the buyer? And if so, is it a substantial amount? The buyer has not fulfilled his obligation. All monies should have been wired to your attorney or title agent at closing. You say your lawyer is trustworthy, if so the lawyer needs to deal with this and handle the situation to satisfaction. Because the seller has not fulfilled his obligation, you can keep the deposit and put the property back on the market. If you were represented by a Realtor, they will want to, and have the right to split the deposit with you.
Jen Babacan
Galleria International Realty
jenbabacan@live.com
Cell (954) 648-7334
1 vote
Mike Luzzo, , Orlando, FL
Mon Oct 3, 2011
Ansyb,

You stated:

"The lawyer and the agent is trusted."

Therein, lies your answer. Call them.
0 votes
Katie Sweet, , 34746
Sun Oct 2, 2011
I have to agree with everyone here. Talk to your Attorney, Title agent and Realtor (you were using one right). They are working for you and should be able to let you know what is going on with the buyer. Have you past the closing date according to the contract. If so start looking for a new buyer.

Thank you,

Katie Sweet, Realtor
Watson Reatly Corp.
863-990-5141
katiesweet@watsonrealtycorp.com
0 votes
Debra B Albe…, Agent, Port St Lucie, FL
Sun Oct 2, 2011
Call both the agent and the atty. Then call them again. If I were you, I would call 3 times a day. 9am, 1pm and 4pm. I would simply ask for an update. Stay calm and just ask, "Any Update for me?".

They will have to solve the problem to get any rest. I have used this. They know you will not go away, they will want this to be resolved more then you by the end of the week, if it goes that long.

Best of luck.

Debbie Albert, PA
Keller Williams Treasure Coast
0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Sun Oct 2, 2011
Sorry, but if the lawyer and agent are trusted, why would you be asking us this? What are they, trusted but unhelpful? Start the process to claim the escrow deposit and put the house back on the market. Next time get a bigger escrow deposit.
0 votes
Eric Hanlon, Agent, Canton, MA
Sat Oct 1, 2011
Hi Ansyb,

I am assuming that you/your attorney had the buyer show proof of funds with the initial offer. What kind of account was the money in? Sometimes, certain accounts need time to transfer the funds in to a regular bank acct, and maybe the buyer didn't understand the transfer timeline. There are a number of scenerios that could delay the buyer from coming up with the funds. Either way, if you have an attorney, listen to what he/she is saying, and if you don't have an attorney, get one. Don't rely on the closing attorney to look out for "your" interests. Perhaps, the buyer is in breach of contract and you are entitled to the deposit money if they don't move forward.

good luck
0 votes
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