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Old 11-27-2012, 02:53 PM
 
2 posts, read 1,901 times
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We signed our buy/sell contract several months ago. We are at the point that the lender sent the paperwork to FHA four weeks ago, and now the buyer is heading out to take a different job. What is the legal problems he will have if any by doing this.

 
Old 11-27-2012, 02:55 PM
 
35,094 posts, read 51,251,824 times
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Quote:
Originally Posted by steven317 View Post
We signed our buy/sell contract several months ago. We are at the point that the lender sent the paperwork to FHA four weeks ago, and now the buyer is heading out to take a different job. What is the legal problems he will have if any by doing this.

Why would there be problems? The loan has not been approved yet so list the home for sale again and move on. There is not much that can be done when a buyer is transferred because of their employment.

For the legal part of it though it is best to check with your real estate attorney and see what they say the consequences of the prospective buyer are.
 
Old 11-27-2012, 03:04 PM
 
2 posts, read 1,901 times
Reputation: 10
At this point he is renting the house from us and his family is staying, by him knowing that his job move will affect his loan. It just doesn't seem like it is that easy to delay a contract.
 
Old 11-28-2012, 04:50 AM
 
Location: The Great State of Arkansas
5,981 posts, read 18,273,106 times
Reputation: 7740
Please contact a real estate attorney - this forum cannot substitute for sound legal advice.
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