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Long story short, found a house, put in offer, offer accepted. Come to inspection and are unhappy with what was found. Seller has right to cure and chose to do so. Still want out of deal. Go to lawyer he finds another loophole in the financing contingency and he presented letter to to our agent, who at this point is not helpful. Seller refusing to sign mutual release. Here is the kicker. My house is sold and we are to close on June 9th. So I am virtually homeless!! I do not have a house to move to now. There is one on the market for sale by owner that we are interested in. My question is can we move forward with another offer if we do not have mutual release signed?
Long story short, found a house, put in offer, offer accepted. Come to inspection and are unhappy with what was found. Seller has right to cure and chose to do so. Still want out of deal. Go to lawyer he finds another loophole in the financing contingency and he presented letter to to our agent, who at this point is not helpful. Seller refusing to sign mutual release. Here is the kicker. My house is sold and we are to close on June 9th. So I am virtually homeless!! I do not have a house to move to now. There is one on the market for sale by owner that we are interested in. My question is can we move forward with another offer if we do not have mutual release signed?
Your agent should be assisting you with this. Go to their broker if they are not.
In some states the contract allows a buyer to walk if the inspection does not go well. What state are you in?
Agent is in same company as seller agent. Finding this poses a problem. Yes husband is calling lawyer. Too many things found on incpection (unsafe well water, water in basement due to improper grading of landscaping, windows that don't work properly etc. list goes on)
Agent is in same company as seller agent. Finding this poses a problem. Yes husband is calling lawyer. Too many things found on incpection (unsafe well water, water in basement due to improper grading of landscaping, windows that don't work properly etc. list goes on)
Agent is in same company as seller agent. Finding this poses a problem. Yes husband is calling lawyer. Too many things found on incpection (unsafe well water, water in basement due to improper grading of landscaping, windows that don't work properly etc. list goes on)
The broker in charge, or principal broker, should still be able to help you. Contact them before you pay a lawyer to get their help in resolving this.
No reason not to consult a lawyer even while seeking the help of the broker. The broker's mission is to seal the deal, not protect the OP.
sigh - getting a lawyer will cost extra money.
Not saying they won't have to do that, just saying BEFORE they do it they should get the principal broker of the firm involved.
Basically this situation involves two agents in one office (the listing agent and the buyers agent) - the principal broker should be able to work this out because their duty is to BOTH parties equally, not just the seller.
In Wisconsin. Already contacted lawyer, presented mutual realease a couple of weeks ago after inspection, then they decided to cure defects, but we still wanted out. So he found financing loophole to get us out. He drafted a letter saying that due to financing contingency offer is null and void. But it is my understanding that the mutual release of contract still needs to be signed. Again, is it ok to move forward with another purchase offer. I am going to be homeless in 24 days. LOL I know not funny. Three kids and a dog involved.
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