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| Buying & Selling Property Buying and selling real estate property. |
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#1 |
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We have a signed sales contract on a property with a mobile home on it. It was supposed to have closed 04/30/07. It did not, through no fault of ours. We had our financing in place a week after the contract was signed. We have a realtor representing us, supposedly.
Here's the seller's problem. This was foreclosed property. The title to the land and the title to the mobile home are two separate documents. Seller agreed to "retire" one of the documents at their expense. This was discovered shortly after the contract was signed 03/28/07. After the appraiser went out to the property is was also discovered that the VIN #'s on the mobile home title and the VIN inside the unit are not the same. When the contract was signed the Seller included an addendum stating that the property would close on 04/30 with the allowance of an extension of 30 days due to any delays that would not be the fault of either party. They are saying now, per an email this morning, that it could take an additional 45 days to get everything done. Our first lender has already pulled our loan since it was good only til contract closing date. We have a plan "B", so the financing is not a problem if we have a specific closing date. They haven't given us one. We have dotted all our I's and crossed all the T's. What can we do to enforce the Sellers part of the contract? All through the document is clearly states "time is of the essence". It seems that this hasn't been an issue with them from the beginning. It's like they are totally disregarding any time frames they themselves set. What to do next? We really want this property. Thanks. |
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#2 |
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Top Level Member
Last Online:
Sep 25th, 2008 02:24 PM Join Date: Mar 2007
Posts: 450
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Based on what you say here, you could file suit against them (or at least threaten to do so) in small claims court or in regular court; filing in small claims court is easier and requires no attorney...you could try to collect all of the costs and damages that you suffered due to their behavior...
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