Walk Out at Closing

What is the name of your state? California
This is going to be long....Basically we are trying to purchase a mobile home and land...the mobile has the proper certification for financing purposes...The problem we are having is due to a walk out at closing. To give you background...we have been working with the Realtor who represents the buyer and seller, there has been needed repairs that were Identified approximately two weeks prior to the close date. Such as the framework beneath the mobile. We were originally supposed to close on the 19th of the month...so we turned in our notice at our apartment (which is fine), then we were told that it wouldn't be until the 24th, for which to be on the safe side I extended my apartment by one month. From the 19th up to the 22 my Loan Officer was on vacation(didn't tell me or give me status), I constantly asked about the closing date, my realtor was unsure...so the 24th came and I was called from work to sign the papers, leading me to think I was going to move in. I was told when I got there that the framework - work had just been started and that it was going to be 10 days or morre before I could move in. So I was going to sign anyway. When I received the first document, it stated the closing costs. These costs were 1200 than any disclosure I had received before then. I am not challenging any of the costs, they looked legit. But I am not able to afford them, and my loan officer and agent was aware of the tightness of my budget. The agent wasnt there so the loan officer came....he told me I had to sign. Not knowing my legal rights I asked him if I could have a couple of days to see if I could come up with the $$. He told me I had to sign now, even though true closing wasn't for 10 days or more. I then asked him to show me where it was that said I wouldn't be responsible for the loan if I couldn't come up with the cash. He pointed to an addendum to loan instructions...which had it on there...I told him that this didn't look legal and that if he wrote down a statement saying that I could back out and sign it I would continue. He said fine don't sign it and walked out. I then stopped the process and left....now my question after all this, is what am I liable for since I do't feel that I was actual cause for the deal to fall through.

[HomeGuru]

Originally posted by fivekerr
What is the name of your state? California
This is going to be long....Basically we are trying to purchase a mobile home and land...the mobile has the proper certification for financing purposes...The problem we are having is due to a walk out at closing. To give you background...we have been working with the Realtor who represents the buyer and seller, there has been needed repairs that were Identified approximately two weeks prior to the close date. Such as the framework beneath the mobile. We were originally supposed to close on the 19th of the month...so we turned in our notice at our apartment (which is fine), then we were told that it wouldn't be until the 24th, for which to be on the safe side I extended my apartment by one month. From the 19th up to the 22 my Loan Officer was on vacation(didn't tell me or give me status), I constantly asked about the closing date, my realtor was unsure...so the 24th came and I was called from work to sign the papers, leading me to think I was going to move in. I was told when I got there that the framework - work had just been started and that it was going to be 10 days or morre before I could move in. So I was going to sign anyway. When I received the first document, it stated the closing costs. These costs were 1200 than any disclosure I had received before then. I am not challenging any of the costs, they looked legit. But I am not able to afford them, and my loan officer and agent was aware of the tightness of my budget. The agent wasnt there so the loan officer came....he told me I had to sign. Not knowing my legal rights I asked him if I could have a couple of days to see if I could come up with the $$. He told me I had to sign now, even though true closing wasn't for 10 days or more. I then asked him to show me where it was that said I wouldn't be responsible for the loan if I couldn't come up with the cash. He pointed to an addendum to loan instructions...which had it on there...I told him that this didn't look legal and that if he wrote down a statement saying that I could back out and sign it I would continue. He said fine don't sign it and walked out. I then stopped the process and left....now my question after all this, is what am I liable for since I do't feel that I was actual cause for the deal to fall through.

**A: hire an attorney to read your contract and advise you.