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In a bind w/seller, attorney, and relators

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leanned

Guest
What is the name of your state? IL

This is a very complicated issue:::


My boyfriend (Scott) who owns the house and I reside in, put the house up for sale two months ago. There was a party interested, papers were signed, inspection was done but here is where things went downhill...the inspection was done, they came back and said this is what we need fixed, Scott came back and said he will give them $1500 at closing. in the meantime we found a house we fell in love with in MN-scott was relocating due to a new job. put a bid on the house. everything was going smoothly, until last week the people who we wanted us to buy the house in MN wanted us to lift the contigency on the house here in IL--there was a contigency for the buyers here for when they sell their house. well, they wouldn't lift the contigency and and we lost the house--we were ready to close/move last week and scott's new company thought the same thing---he lost his job because he couldn't move up there in time. We don't have the extra money to pay a mortgage and pay rent. and they weren't willing to wait for him to find something else or help with an apartment
I believe alot of the contigencies on the contract were broken and nothing was followed accordingly and we can't get a straight answer from anyone. They are covering something up because neither our lawyer nor our realtor are on the same track with anything...we keep getting different answers to as what is gonig on.
there is more to this but i don't want this to get too lengthy. we just found out the poeple who want to buy our house, lifted the contigency this morning and are going ahead with the closing. and I also found out there is no signed agreement with regards to the monetary inspection at closing---the lawyers made a verbal agreement. PLEASE help, we are at our wits end, if we don't break this contract--we will be homeless.
 


A

annefan1000

Guest
Contact your State Real Estate Commission to find out Real Estate laws in your state.

You heard the buyers of your property lifted the contingency? Did they do this in written form with the seller's (your) signatures on it? If not, there is no "lifting of contigency" without an agreement about it.

Regarding the $1500 Seller credit at closing, it's not binding if it's not in an addendum to the agreement of sale.

Perhaps you can suggest to your Realtor that you won't be financially able to give the $1,500 credit at closing. As it's not in written agreement, the buyers of your property will probably opt out of the agreement.

If all else fails, you may be able to just go on the fact that Scott lost his employment and thus, wouldn't be eligible for a mortgage. Parties have agreed to release an agreement of sale when situations like that happen here in my office in Pennsylvania.

Good luck to you.
 
L

leanned

Guest
1) I just found out today that the buyer's are suing us because we are trying to get out of the contract--with no help with our attorney, he actually is helping them out more than they are helping us out, so I fired him yesterday and have been trying to get into contact with a new attorney today. But in the meantime, found out about the alleged suing by the buyer's, will that delay the closing of the house? Also, since we are retaining a new attorney will that delay anything?

2) I went over our contract backwards and forwards and it states in there that everything is being negotaited with the contract, addendums needs to be in writing, found out from our attorney that he and the other attorney have just been gonig by their word (another reason why we fired him), will this cause a problem with the contract in favor of us wanting to get out of the contract?

3) I also fonud out that our attorney set up the closing date (w/o consulting us on the date) for Sept. 3 and in the contract the closing date is for Aug. 30--we never signed any paperwork/addendum stating we would change the date. and we never gave a verbal agreement for this. Our attorney stated he had to do this because he couldn't find a titile compnay that could close on that date--is that our problem???
 
A

annefan1000

Guest
Your former attorney made some of the biggest procedural boo-boos by making such verbal agreements left and right. The fact that your attorney was breaching the agreement by negotiating verbally and not in writing, does not allow you out of the contract. On the same coin, whatever "agreements" were made verbally, are not binding.

Did your agreement include a contingency upon the sale and settlement of another property (in this case, the property you intended to subsequently purchase)? If you did, and that home purchase fell through (due to job loss, etc.), perhaps this would be an option to use for an agreement of sale release.

Get in touch with another attorney as soon as you can.
 

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