Posted by River City on November 27, 2002 at 09:02:24:
That depends on what your contract states. It probably states that the sellers must pass clear title to you. In this case, this has not been done. Also, does it state that time is of the essence and indicate a closing date? Is the closing date automatically extended? If the contract states that time is of the essence and has a closing date, then you would probably be able to cancel and receive a refund of your deposit. If the contract can be automatically extended, then see if there are reasons for the automatic extension. In other words, read the contract.
I know that I would not be comfortable purchasing the property with a lien on it. I would be looking for another house.