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  #1  
Old 07-18-2001, 01:09 PM
want2beahomeowner
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Unhappy

Is there anyone there that can help with some advise?
I was supposed to close on June 23rd and then it was
switched to July 10th, however, we got a letter from the
homeowners lawyer, who now has power attorney, and they
said they aren't ready to close because there are many
outstanding judgments and IRS tax liens and they are having
a hard time clearing it up. They also said that they had the house appraised the other day at $35,000 more than what it was offered to me at. I had it appraised at $3,000 more than what it was offered to me at. I am under contract. I called the homeowner hoping that he would tell me a little more than the lawyers and he said that they are going to try to get me to walk away from it so they could put it back on the market for $35,000 more than what I'm supposed to be buying it for. Please help with any advise possible or let me know if there are any groups or consumer protective agencies out there that can help with any prior experience/advise. I do not want to back out of this,
but I'm unclear as to what my rights are.
  #2  
Old 07-18-2001, 01:24 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
You need to hire your own attorney to review your purchase contract and invoke the specific performance clause and threaten the Seller with breach of contract etc.
The IRS liens and judgements could be paid out of escrow and you should have known about this via the title report.
Me thinks they are playing games with you.
  #3  
Old 07-18-2001, 01:33 PM
want2beahomeowner
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I knew about it when I had the title search done, and the homeowners reassured me daily that everything is going ok and it will all be taken care of. They even offered a U & O until teh closing but since their lawyer now has power of atty, he decided against it. They owe more than what the house is worth and at this point, they seem not to care what happens anymore because they don't have the money to pay everything. My attorney sent their attorney a letter saying that I am anxiously ready, able, and willing to close. I just thought there may be something more that I can do. I do think they are playing games hoping that I'll find something elsoe so I back out and they can sell it for more and pay off some of the money they owe.
  #4  
Old 07-18-2001, 01:37 PM
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Join Date: May 2000
Location: Catatonic State
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Keep on your attorney.
  #5  
Old 07-18-2001, 01:40 PM
want2beahomeowner
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Thank you, I call him several times a day for the past month. It's great to know about this site. Your quick response and advise is grealty appreciated!!
  #6  
Old 07-18-2001, 03:27 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Keep us posted and thanks for your kind words.
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