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Updated over 7 years ago on . Most recent reply

User Stats

8
Posts
2
Votes
Chris Hines
  • Investor
  • Gilbert, AZ
2
Votes |
8
Posts

Small MF in Cleveland - but, 11th hour issues. Help!

Chris Hines
  • Investor
  • Gilbert, AZ
Posted

So.. I'm buying a duplex in Cleveland.  Gone through inspection, gone through appraisal, getting ready to sign final documents tomorrow AM.  I had previously been sent a LBP disclosure that was muddled, so I asked for clarification. Agent confirmed seller had no knowledge of LBP.

Get an email from my agent today, that the seller has created a problem over their fee structure - and is now changing his LBP disclosure.  I was just sent a new LBP disclosure, saying there is LBP.  Agent's position is that the seller is doing this to get me to back out of the deal.   I tend to agree with this (based on evidence) - but that doesn't help me decide what to do.

What do I do with this??  My concern is that even if I get a clean bill of health from the seller at this point, I've been sent a disclosure saying that there is LBP.  What is my exposure if I do go forward?  What should I be doing that I don't know about at this point?   This is my first deal, so.. help appreciated!

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