You'd best speak with an experienced real estate attorney (if you've been this far and close to closing using a mortgage you should already have one unless it's the banks attorney). If you don't have one for one ask friends, family, colleagues for names of a real estate attorney they've used recently. You can also call the Mass Bar Association to ask for a referral for this. Save every document, email, voicemail etc. and have them review the situation.
This property already has an accepted offer but they are accepting additional offers if you are really interested but there other similar properties available, if you are interested you may email us firstname.lastname@example.org... more
Usually--but I don't know about Massachusetts, so you really need someone familiar with Massachusetts--the deposit is kept in escrow. And, yes, it generally does take the agreement of the buyer and seller to get the money released from escrow.
I'm not a lawyer, so what follows is not legal advice. For legal advice, you need a lawyer. (However, initially, your Realtor should be able to assist.)
Was there a financing contingency in your contract? That is, do you have a right (per your contract) to receive your deposit back? If so, there are various steps you can take--your Realtor can advise you--to attempt to get your money back.
If there wasn't a financing contingency in your contract, then you may not be due any refund of your deposit.
So the first question really is: Based on your contract (and the presence or absence of a financing contingency), are you entitled to a return of your deposit? If yes, your Realtor can outline the steps you can take.
Miscellaneous question: Were you pre-approved for the loan? If yes, then why was it denied? Is it possible to have the decision reviewed? Or to find another lender to make the loan?
There are numerous ways. You can also visit my website and click on www.Foreclosure.com
You can find out from there if ta home is in preforeclosure. However, just because a home is in preforeclosure, it does not mean that it will end up as a foreclosure. A homeowner can usually pay up or make an agreement with the lender.... more
Hi B B, a 5% variance in asking price is not a tremendous difference especially when a property is priced at such a relatively low price. I would need to know more in order to more appropriately give a solid assessment. Feel free to contact me and I will perform a Comparative Market Analysis (CMA) on the property for you. Thanks in advance, Jon... more
It's totally up to the buyer, agent and broker that you signed with. They can make stay to every letter of the contract.
If you are backing out, you have to have a very good reason. Buyers have more rights than sellers.
If the buyers miss any of the deadlines, such as when to give you funds, you can cancel.
Talk to your Realtor.... more
Susan--There are many homes going under agreement and selling in Randolph, MA. There are currently 146 homes still available and they are taking about 5 months to sell according to the Multiple Listing Service. The average sales price is $270,000 which is rather affordable for a location that offers an easy commute to Boston. Please feel free to contact me if you have more questions about the real estate market.