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Updated over 3 years ago,

User Stats

33
Posts
12
Votes
Robert Johnson
  • Rental Property Investor
  • New Bern, NC
12
Votes |
33
Posts

Seller breach of contract

Robert Johnson
  • Rental Property Investor
  • New Bern, NC
Posted

Anybody have experience with dealing with a seller that refuses to sign final closing docs on a property and going through the legal process in TX. Back story: I have a 4 plex under contract for an FHA 203k loan that we have been working on for about 4 months now and I have about $5k in the deal for contractors, appraisals, inspections etc. I signed and wired my cash to close on Friday last week. Seller was supposed to sign on Saturday Loan was to fund on Monday. Seller is a Mexican National and as such is required to let IRS hold 15% of sales price for any tax problems until next tax year. Seller lied about signing and we are at Wednesday with my credit report going out of date tomorrow. Any advice would be appreciated. I feel like all the work on the 203k was enough for this, and it's super deflating to have the rug pulled from me right at the 1 yard line.

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