Z
zorbot
Guest
Minnesota - Two months ago I signed a purchase agreement for a residential property that I intend(ed) to use as a second home. I was set to close last week. The day before closing the title company called me and informed me that we would not be able to close for "a couple weeks" (for what it's worth, the title company did have the file for over a month prior to closing) because they did not have a clear title. Because I don't care to be dragged along on this property (I have other real estate transactions that are pending and may be effected by having this mortgage application "in process"), I am considering getting out. Can anyone tell me what the laws are pertaining to getting out of this situation? Is there a time limit afterwhich I can get out? Do I have to wait at all? What about my earnest money?