Hello,
I am from CA state. I make an offer on the foreclosed house. This is little complicated case.
The house is owned by Bank and the land is owned by somebody else. While making an offer, the bank (or the seller's agent ) told us that they will give me clear title. (i.e. they will purchase land and give me land + improvement)
Now after 2-3 months of waiting (many ETAs to close an escrow) the bank/seller finally wanted to cancel the escrow and return my deposit. {Sounds like Bank could not close the escrow with land owner, the land owner might be asking for the higher price}
Now, I really wanted to get the house. So if I go for mediation arbitration, would it be possible to get the house or get the damages. (lost another opportunity, interest rate spike, money spent on inspection and etc)
Is this a fair case to hire an attorney or I just simply get my deposit back and forget about my expenses)
ThanksWhat is the name of your state (only U.S. law)?
I am from CA state. I make an offer on the foreclosed house. This is little complicated case.
The house is owned by Bank and the land is owned by somebody else. While making an offer, the bank (or the seller's agent ) told us that they will give me clear title. (i.e. they will purchase land and give me land + improvement)
Now after 2-3 months of waiting (many ETAs to close an escrow) the bank/seller finally wanted to cancel the escrow and return my deposit. {Sounds like Bank could not close the escrow with land owner, the land owner might be asking for the higher price}
Now, I really wanted to get the house. So if I go for mediation arbitration, would it be possible to get the house or get the damages. (lost another opportunity, interest rate spike, money spent on inspection and etc)
Is this a fair case to hire an attorney or I just simply get my deposit back and forget about my expenses)
ThanksWhat is the name of your state (only U.S. law)?
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