Posted by Tom-FL on May 12, 2004 at 18:42:37:
You Go Girl!!!
difficult seller - Posted by Melinda
Posted by Melinda on May 11, 2004 at 14:12:02:
The day before closing we found out that the seller had a prepayment penalty on his second mortgage. Our agent and ourselves offered to pay this at closing to have clear title and close on the home. The seller refused, didn’t show at the closing and also will not move out. Two weeks have passed and we would still like to close, but our lender will not extend any more and we may lose financing. Now the seller will not sign for a refund of the earnest money. What can we do?
Re: difficult seller - Posted by Tom-FL
Posted by Tom-FL on May 11, 2004 at 20:26:04:
One thing you might consider is to sue for specific performance of the contract. This would compel the seller to honor the deal. Of course your financing would be shot by then.
Maybe an angry letter from your attorney would do the trick too. Be sure in either case to hire an attorney who specializes in real estate matters. Your sister’s divorce attorney or the guy who handled your traffic ticket just won’t do. Ask what real estate accreditations the attorney carries from the local bar. There is an entire alphabet soup of letters they put after their name, the more the better. After they tell you, then look up what they all mean.
Here’s a great article that expounds on that idea:
http://www.creonline.com/money-ideas/mm-055.html
Now, if it were me, I’d sue for the return of my earnest money and reimbursement for all the money I spent on appplication fees, surveys, appraisals, attorney fees, and whatever else. Then I’d have my judgement turned into a lien on the house and foreclose on it.
MUUUUUUHAHAHAHAHAHAHAHAHA!!!
But that’s just cuz I’m old, mean and nasty.
Re: difficult seller - Posted by Melinda
Posted by Melinda on May 12, 2004 at 11:27:19:
Thank you for your reply- I have contacted our attorney and either way this guy is getting sued. If he doesn’t close by the end of this week, when we lose lending, then we go forward to get a judgement for a lien on the property. After 8 weeks of dealing with this seller, I think that’s the best option.