Who's resposible for additional costs?

[homelessnow]

We sold our home with a 45 day closing as we were already over 30 days in default on our mortgage. Our agent was aware of this and the buyers were informed at the acceptance of offer. The buyer, after having thier deposit check returned nsf (they corrected this problem shortly), had troubles with thier financing. I am not certain what was the cause, but they were unable to close on time. Escrow was delayed by over 30 days. At the time of closing, we had an additional $1700 in interest charges, and our mortgage company had began foreclosure procedings at an additional cost to us of almost $1400. Who is responsible for these costs? How can I recover them?
Second, due to the delays, we lost the lease on our apartment and now have no place to go. Since closing (remember, over 30 days past contract), the buyers have been very impatient with our tardiness at moving out. We had to rent storage and wait for the container delivery, re-pack, etc. and this is the fifth day after closing. We are trying to get out ASAP, and should be by tomorrow am. They are threatening legal action for "rent money". Do they have a right? How long do we have to move? - There were no provisions for such curcumstance in our contracts.

[Ohiogal]

Originally Posted by homelessnow

We sold our home with a 45 day closing as we were already over 30 days in default on our mortgage. Our agent was aware of this and the buyers were informed at the acceptance of offer. The buyer, after having thier deposit check returned nsf (they corrected this problem shortly), had troubles with thier financing. I am not certain what was the cause, but they were unable to close on time. Escrow was delayed by over 30 days. At the time of closing, we had an additional $1700 in interest charges, and our mortgage company had began foreclosure procedings at an additional cost to us of almost $1400. Who is responsible for these costs? How can I recover them?
Second, due to the delays, we lost the lease on our apartment and now have no place to go. Since closing (remember, over 30 days past contract), the buyers have been very impatient with our tardiness at moving out. We had to rent storage and wait for the container delivery, re-pack, etc. and this is the fifth day after closing. We are trying to get out ASAP, and should be by tomorrow am. They are threatening legal action for "rent money". Do they have a right? How long do we have to move? - There were no provisions for such curcumstance in our contracts.

What does your purchase agreement say about all of this? If it doesn't say who owes extra money for the mortgage it is you. When was possession of the home to be transferred? If at closing, then the buyers have a right to move in now and kick you out. They can start charging you rent because you are a month to month tenant. If you don't like, move.

[homelessnow]

I forgot to mention, (maybe I'm reaching here - lol) this was a "dual agency" deal. I thinkl that's what it's called . . . both the buyer and I were represented by the same broker (separate agents from same office) Our actions, or lack thereof were made under the advice of our agent. I'm starting to think she was working on behalf of her commission, not our interests! As a "professional", was it not her responsibility to include (or at least reccomend the inclusion) responsible parties in the event of delays/etc.? Why hire an agent if they are not there to protect our interests with thier "professional knowledge"?
P.S. - We ARE moving out . . . would have been moved out long ago had it not been for thier delay! We want out as bad as they want us out, we just lack any "extra" time in our schedules to do so - all moving is being done during evening/night-time hours. Ahhh, to sleep, perchance to dream . . .

[pojo2]

Sorry, but there appears to be many holes in your story. Bottom line you should be out NOW and you accepted all the issues 1 by 1 by allowing things to go forward at each juncture.

They have every right to charge you rent, they are paying a mortgage on a property they can not move into. Not their problem that you haven't the time to move.

[homelessnow]

O.K., now I understand . . . 1)Hire a professional to protect your rights/interests 2) Pay an exhorbitant amount in fees/commission to said "professional" 3) Bend over. 4) Get out.

Yep, all makes sense to me now. lmao

All take care and . . . cav . . . actually, let the seller beware!

[Ohiogal]

Originally Posted by homelessnow

I forgot to mention, (maybe I'm reaching here - lol) this was a "dual agency" deal. I thinkl that's what it's called . . . both the buyer and I were represented by the same broker (separate agents from same office) Our actions, or lack thereof were made under the advice of our agent. I'm starting to think she was working on behalf of her commission, not our interests! As a "professional", was it not her responsibility to include (or at least reccomend the inclusion) responsible parties in the event of delays/etc.? Why hire an agent if they are not there to protect our interests with thier "professional knowledge"?
P.S. - We ARE moving out . . . would have been moved out long ago had it not been for thier delay! We want out as bad as they want us out, we just lack any "extra" time in our schedules to do so - all moving is being done during evening/night-time hours. Ahhh, to sleep, perchance to dream . . .

She is not an attorney. She cannot write contracts. She can use contracts that attorneys have written. But if you wanted to add such a thing you should have suggested it. You didn't. Real estate agents sell homes. They are not attorneys. They can list your property on the MLS, show the home, help you determine a sales price. Your agent is not to blame.

[HomeGuru]

I agree with the 2 responders.

[pojo2]

Originally Posted by homelessnow

4) Get out.

You sold them the home why the heck shouldn't you be out? Actually you are quite lucky the Sheriff has not shown up at the door. So stop with the poor ole me attitude.

[HomeGuru]

that is fodder for another country song**************