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#1
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Closing problems...can I void contract?What is the name of your state? Missouri I (the seller) entered into a contract to sell my home. The sale was FSBO. The contract was entered into on 7 Sep with a tentative close date of 27 Sep. The buyers moved into the house on 4 Oct and immediately replaced the carpet and painted. On 10 Oct, I was told that the buyers were still missing critical paperwork (i.e. child support verification). This paperwork was finally turned in on 29 Oct, at which time I requested the buyers to pay rent for the time they have lived in the house. My contract did not have a concrete closing date, but did have a Time of the Essence statement. Can I legally void the original contract? If so, what about the carpet? If the buyers cannot get financing through the VA because of the child support issue, does that allow them to legally back out of the contract? Once again, what about the carpet? They have already thrown out the old carpet. Lastly, the mortgage broker the buyers are using are not returning calls to either myself or the buyers. What can we do to finish this deal. Please help!! A second, and completely different question. During the title search I discovered that there was a lien on the property for road improvements made by the homeowner's association. This was the first time I had ever heard of this. The mortgage broker said that I (the seller) must pay this. I contend that since the payments are done through annual assessment in my property taxes, that I should only pay for the portion of time that I owned the property. If I do have to pay, can I renegotiate the contract to sell? Last edited by lee_m; 11-11-2002 at 09:10 PM. |
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#2
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Re: Closing problems...can I void contract?[quote]Originally posted by lee_m [b]What is the name of your state? Missouri I (the seller) entered into a contract to sell my home. The sale was FSBO. **A: wrong move especially if you did not use a real estate attorney to help you. ************ The contract was entered into on 7 Sep with a tentative close date of 27 Sep. The buyers moved into the house on 4 Oct and immediately replaced the carpet and painted. **A: how could you let the Buyer's move in without closing or at leaset a rental agreement? ********* On 10 Oct, I was told that the buyers were still missing critical paperwork (i.e. child support verification). This paperwork was finally turned in on 29 Oct, at which time I requested the buyers to pay rent for the time they have lived in the house. My contract did not have a concrete closing date, but did have a Time of the Essence statement. **A: no concrete closing date? No wonder you have a mess. ************* Can I legally void the original contract? **A: we have no idea since we do not know the terms and conditions of the contract. Now you really need to hire that attorney that you should have hired in the first place. *********** If so, what about the carpet? **A: good question. What was your written agreement about the carpet and the painting? What, no written agreement? *********** If the buyers cannot get financing through the VA because of the child support issue, does that allow them to legally back out of the contract? Once again, what about the carpet? They have already thrown out the old carpet. Lastly, the mortgage broker the buyers are using are not returning calls to either myself or the buyers. What can we do to finish this deal. Please help!! **A: you have a mess and all of the problems could have easily been avoided if you had done things correctly from the start. |
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