HELP! Purchase of a home

[kryzif]

What is the name of your state? PA.

I signed a real estate contract to purchase a house. The contract states that the seller must present the buyer with a copy of the existing lease if the buyer is to take property subject to the existing lease, and the buyer is supposed to initial the lease at the signing of the contract. I was never presented with a lease for the property that I was buying. I knew that it was tenant occupied and upon seeing the house for the first time, the tenant said that he had lived there for 8 years and never had a lease.

My situation has gotten a lot more complicated now. The seller will not tell the tenant to get out unless I agree to sign an addendum stating that I will settle the property with or without the tenant in the property by a certain date. I don't want to sign this addendum because I don't want to be a landlord. I have $1150 in this deal.

What complicates this even worse is that I did have an attorney working for me, but he's no longer with the company. Should I hire a new attorney? If I walk away from the deal, the seller can keep my deposit money, plus I will lose all the other money that I have invested in the appraisal, physical inspections, homeowner's insurance, ect.

How can I get the seller to comply with the original agreement? In several addendums to the contract, none of which were FULLY ratified, he stated that he would give notice to the tenant when all of our conditions on our contract were satisfied. The conditions have been satisfied since February 10th, and we still have not settled because of the seller's neglect to comply with the original contract.

My situation is so complicated and I need some advice as to what to do. I am willing to provide more information, should that be neccessary.

Thanks in advance!

[kryzif]

Also, each party has their own realtors, but my realtor has not been of any help at all. I did not sign a buyer agency with him, so is there any way of getting someone else to represent me in this transaction? My realtor is next to incompetent and has acted like a total jerk since the issues with the tenant first arose.

Keeping in mind the fact that the seller did not inform the tenant until the day the sign went up in the yard that he was going to sell the property. Also keeping in mind that my realtor is the one that informed the tenant that we had a contract on this property the second time I went back to look at the property. (after recieving the fully-ratified contract).

I have spoken with the manager of the office where my agent is located and he is basically taking up for the agent, which I expected. Can anyone offer any advice about either topic?

Thanks in advance.

[HomeGuru]

1. hire an attorney
2. you are stuck with that Realtor since your offer has already been made.

[kryzif]

Originally Posted by HomeGuru

1. hire an attorney
2. you are stuck with that Realtor since your offer has already been made.

Well, my situation just got more complicated. The seller has sent over ANOTHER (this is the 2nd time) release that he wants me to sign to release him from the contract. He will give us our deposit money back. He says the reason is that we have not settled by the date on the original contract. Again, the reason why we have not settled is because in the contract it states that the property will be vacant at time of settlement, and it is still not vacant due to seller's non-compliance.

I will release him, but I think he should give me my deposit money back and the fee for the cancellation of my mortgage with my mortgage company, plus inspection fees and appraisal, which I have already paid.

Is there anyway that I can tell them I am not signing the release without getting back all of the money that I have invested? I already know that I don't have to sign the release.

[HomeGuru]

Originally Posted by kryzif

Well, my situation just got more complicated. The seller has sent over ANOTHER (this is the 2nd time) release that he wants me to sign to release him from the contract. He will give us our deposit money back. He says the reason is that we have not settled by the date on the original contract. Again, the reason why we have not settled is because in the contract it states that the property will be vacant at time of settlement, and it is still not vacant due to seller's non-compliance.

I will release him, but I think he should give me my deposit money back and the fee for the cancellation of my mortgage with my mortgage company, plus inspection fees and appraisal, which I have already paid.

Is there anyway that I can tell them I am not signing the release without getting back all of the money that I have invested? I already know that I don't have to sign the release.

**A: get an attorney to send a demand letter.