What is the name of your state Massachusetts
My sister in Law was in the process of buying a new condo from a developer. She has a Purchase and Sale Agreement signed a Home Inspection had financing and just waiting on the closing in about 30 days so she gave her notice as required at her rental.
During this time the unit above her had a water leak the owners were away so the leak went on for several days before any one found out about it.
My sister in law’s unit was completely ruined. It needed to be gutted re sheet rocked and everything replaced.
The developer and her real estate agent assured her that all the work would be complete by her closing.
Well it wasn’t. Now she in a situation where the bank may pull her financing because she was locked for a certain length of time and she already got an extension. Also the banks rules have changes on her financing and the type of loan she was going to get may now not be available to her.
Because she gave up her current apartment and her landlord has already rented it she now has to move out no matter what so now she’s afraid that the money she used as a down payment will need to go to moving and renting and storage of her possessions setting her back 6 months or a year before she could try buying again.
Is the developer, or upstairs condo owner liable is any way for any monitory damages? She has done all they have asked but it’s not her fault she couldn’t close. Is there any action she could take legally?
My sister in Law was in the process of buying a new condo from a developer. She has a Purchase and Sale Agreement signed a Home Inspection had financing and just waiting on the closing in about 30 days so she gave her notice as required at her rental.
During this time the unit above her had a water leak the owners were away so the leak went on for several days before any one found out about it.
My sister in law’s unit was completely ruined. It needed to be gutted re sheet rocked and everything replaced.
The developer and her real estate agent assured her that all the work would be complete by her closing.
Well it wasn’t. Now she in a situation where the bank may pull her financing because she was locked for a certain length of time and she already got an extension. Also the banks rules have changes on her financing and the type of loan she was going to get may now not be available to her.
Because she gave up her current apartment and her landlord has already rented it she now has to move out no matter what so now she’s afraid that the money she used as a down payment will need to go to moving and renting and storage of her possessions setting her back 6 months or a year before she could try buying again.
Is the developer, or upstairs condo owner liable is any way for any monitory damages? She has done all they have asked but it’s not her fault she couldn’t close. Is there any action she could take legally?