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Updated almost 7 years ago,

User Stats

8
Posts
1
Votes
Bryan S.
  • Columbus, OH
1
Votes |
8
Posts

Advice Please Lawsuit Threatened for Not completing FCL auction

Bryan S.
  • Columbus, OH
Posted

Hi BP team. Long time reader, 1st time lawsuit-facer. In a nutshell, I have an LLC and have completed several sucessful foreclosure purchases and resales in Franklin County OH. The last one entered a purgatory of legal delays before bank issued letter to proceed. By time they were ready to move forward the deal was no longer attractive and do not want to purchase. I'm okay with losing my 10k deposit and walking away. Now being threatened with lawsuit by bank to compel me to purchase home. The threat is they sell and come after me for difference in my purchase price at auction and their sale price. Anyone face this? Am I protected from personal liability by my LLC?

TIA!

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