Escrow contingency

[MYSTICJADE]

What is the name of your state? So. California

I sold my home with the contingency that I find the home of my choice before I close escrow. I found the home of my choice, however, because of legal problems between the husband and wife sellers, it was lengthy process accepting my offer (3 weeks before I'm supposed to move and we've only just had the inspection). The escrow for the sale of my home is to be the first week of October, but the home I'm buying won't close until 1 month later. I tried to appeal to my buyer to rent back the home to me, but he decided to seize the opportunity and wants to gouge me and make a profit over what his PITI is. This means moving to a hotel for 1 month with a special needs child (I am a single parent) and pay an add'tl $3,000.00 for storage and have my possessions moved twice. Can I exercise my contingency that I didn't sign off on? My real estate broker told me yes and now he's telling me I may be sued over this because I DID find "my home of choice."

[HomeGuru]

Originally Posted by MYSTICJADE

What is the name of your state? So. California

I sold my home with the contingency that I find the home of my choice before I close escrow. I found the home of my choice, however, because of legal problems between the husband and wife sellers, it was lengthy process accepting my offer (3 weeks before I'm supposed to move and we've only just had the inspection). The escrow for the sale of my home is to be the first week of October, but the home I'm buying won't close until 1 month later. I tried to appeal to my buyer to rent back the home to me, but he decided to seize the opportunity and wants to gouge me and make a profit over what his PITI is. This means moving to a hotel for 1 month with a special needs child (I am a single parent) and pay an add'tl $3,000.00 for storage and have my possessions moved twice. Can I exercise my contingency that I didn't sign off on? My real estate broker told me yes and now he's telling me I may be sued over this because I DID find "my home of choice."

**A: hire an attorney to review your contract. That is the only thing to do at this point. You may be stuck depending upon how the contract reads.