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  #1  
Old 09-10-2008, 09:31 PM
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Join Date: Sep 2008
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Seller not complying with closing;trying to keep earnest money


What is the name of your state (only U.S. law)? North Carolina
I signed a lease to purchase almost 3 years ago and gave the seller $5000 down. The contract expired and we signed new straight purchase contract that stated $5000 is non-refundable. I am doing an FHA loan and a amendatory form is required to be signed by myself and the seller. The seller will not sign it and I cannot proceed with the closing until they do but they are trying to keep my $5000, the house, and I have paid the last 3 years of the sellers mortgage. The contract states the seller has to comply to the purchase contract, since they are not is there a way for me to get out of the contract and get my $5000 back?
  #2  
Old 09-10-2008, 09:35 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Quote:
Originally Posted by Mbrando View Post
What is the name of your state (only U.S. law)? North Carolina
I signed a lease to purchase almost 3 years ago and gave the seller $5000 down. The contract expired and we signed new straight purchase contract that stated $5000 is non-refundable. I am doing an FHA loan and a amendatory form is required to be signed by myself and the seller. The seller will not sign it and I cannot proceed with the closing until they do but they are trying to keep my $5000, the house, and I have paid the last 3 years of the sellers mortgage. The contract states the seller has to comply to the purchase contract, since they are not is there a way for me to get out of the contract and get my $5000 back?
**A: as I see it, you can terminate the contract to purchase but your $5K is nonrefundable.
  #3  
Old 09-13-2008, 05:45 PM
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Quote:
Originally Posted by HomeGuru View Post
**A: as I see it, you can terminate the contract to purchase but your $5K is nonrefundable.
I am trying to get some real legal adivse. This answer is stupid. I don't see how the seller can not comply with the stipulations in the purchase so the purchaser can't close the mtg loan, and still keep the $5000 down payment; that has to be illegal.
  #4  
Old 09-14-2008, 10:06 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Quote:
Originally Posted by Mbrando View Post
I am trying to get some real legal adivse. This answer is stupid. I don't see how the seller can not comply with the stipulations in the purchase so the purchaser can't close the mtg loan, and still keep the $5000 down payment; that has to be illegal.
**A: ok great. Now pay a real estate attorney $1200 to tell you the same stupid answer.
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