No Proof of Financing

[caa301]

We are selling our home buy owner in the state of Maryland, and signed a contract on February 20, 2001 with a promiss that the buyer would have proof of financing within 30 days. We let them move their furniture into our basement. We are supposed to go to settlement first week of July. My husband went to Florida to find a new home for us and when he wrote the contract the real estate agent told him we need to get our buyers proof of financing, due to the fact we are going to pay cash for a house in Florida. We got the name and number or their mortgage broker and according to him they do not have financing yet. We called them today, May 9, 2001 and told them to get their stuff out of our house and we consider the contract null and void. They are telling us that they are going to file a lawsuite to tie up our house for a year so we cannot market it.

Please help ASAP.

Thank you

[Edited by caa301 on 05-10-2001 at 08:04 AM]

 

[HomeGuru]

This is another example of why using a Realtor would have helped.

You need to send them written confirmation via certified rrr mail, that the deal has been terminated.