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Updated about 7 years ago on . Most recent reply

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17
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4
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Francis Dinh
  • tuson
4
Votes |
17
Posts

Seller mistake lead to cancelling the contract

Francis Dinh
  • tuson
Posted

Hello all,

I am buyer from California and under a contract to buy a house in Texas. It was supposed to close in next 48 hours. My agent just noticed me that the deal will be cancelled because the title company has found out that the seller has a big lean which is more than the money he would receive if this deal closed; therefore, I won't let this deal continue. The seller agent did not know about that or did not mention in the beginning. We don't know. My agent told me to send him all the receipts of the all expenses including deposit, appraisal and inspection fee, plane tickets, the salary which I would make on the day I was off to look for this house. I am going to send him all the receipts. What else do I need to do? This problem wasted my time. 

Thank you all.

Most Popular Reply

User Stats

86
Posts
74
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Ian Tvardovskaya
  • Investor
  • Columbus, OH
74
Votes |
86
Posts
Ian Tvardovskaya
  • Investor
  • Columbus, OH
Replied

If the seller did not agree to reimburse you then you may want to speak with an attorney. When sellers default there may be an option to sue for specific performance (you get the house, the seller would have to settle the lien on his/her own since he/she accepted the contract). At the very least an attorney can help write a strong demand letter that will give the receipts more authority. Attorney fees can be added to the compensation your demanding. 

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