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Updated about 3 years ago on . Most recent reply

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S Ng
  • New to Real Estate
4
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Question - Seller signed contract but wants to break contract.

S Ng
  • New to Real Estate
Posted

Purchased a house (7/27/2021) and spent money on the building inspection and appraisal of the house. The Seller ran into some issues, first the seller mortgage company needed the Seller to refinance the house (had two houses on one mortgage). After the Seller Refinance we proceeded with the closing. The closing then halted again because the Title company then found out someone filed a mechanical lien on the property in November. The Seller said she would take care of the lien. A month pass the Seller then said she needs to turn away on this deal. I didnt sign a mutual release agreement yet, I am requesting the seller to refund the building inspection and apprisal that I paid during this nightmare. Not to mention I spent a lot of money on airfare, car rental and hotel when we were scheduled to close. Total its been over 170 days and the seller just gave me heads up that she will not be selling the house and wants a mutual release.  

Is there a way I can recover my expenses?

Most Popular Reply

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,102
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied
So you're willing to put at risk your 20% down payment to try to get back like $1,000? 

Not releasing the contract does absolutely zero to the seller if they are not selling while you risk losing your 20% down payment in escrow. This is the very definition of "stepping over dollars to pick up pennies."
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