U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-15-2014, 12:33 PM
 
19 posts, read 26,541 times
Reputation: 10

Advertisements

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?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 05-15-2014, 12:40 PM
 
Location: Up above the world so high!
45,246 posts, read 94,086,477 times
Reputation: 40068
Quote:
Originally Posted by dctam View Post
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?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-15-2014, 12:41 PM
 
13,483 posts, read 7,929,865 times
Reputation: 9655
Isn't that what your lawyer is for?
.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-15-2014, 12:41 PM
 
Location: NJ
983 posts, read 2,586,594 times
Reputation: 1885
If the seller is willing to rectify the problems you found, why do you still want out of the deal?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-15-2014, 12:45 PM
 
19 posts, read 26,541 times
Reputation: 10
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)
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-15-2014, 12:55 PM
 
Location: Up above the world so high!
45,246 posts, read 94,086,477 times
Reputation: 40068
Quote:
Originally Posted by dctam View Post
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)
Again, what state are you in??
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-15-2014, 12:56 PM
 
Location: Up above the world so high!
45,246 posts, read 94,086,477 times
Reputation: 40068
Quote:
Originally Posted by dctam View Post
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-15-2014, 01:09 PM
 
Location: Portland, Oregon
10,831 posts, read 18,609,550 times
Reputation: 7803
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-15-2014, 01:13 PM
 
Location: Up above the world so high!
45,246 posts, read 94,086,477 times
Reputation: 40068
Quote:
Originally Posted by Nell Plotts View Post
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-15-2014, 01:27 PM
 
19 posts, read 26,541 times
Reputation: 10
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.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top