If you sign the paperwork to buy a house, can the realtor let someone with a better offer take the h
View your credit file based on any of the UK credit reference agencies, or all three at once
LifeLock is the only Identity Theft Prevention Solution backed by a one-million dollar guarantee!Click here to get a 10% discount.
My aunt is buying a house. It's been on the market for about 3 or four months, that I know of. They applied and they have been negotiating back and forth with the realtor and the owner of the house. After months of waiting, the realtor told them to go over to the house and to sign some papers. It took hours to sign all those papers and weeks for them to get a loan but they managed and supposedly, the house was theirs. Now the realtor hasn't called them back since then and when they called her to ask what's going on, she said that someone else was looking at the house with a better offer. They can't afford to go any higher and they were approved with a loan to pay 100% of what they're asking for. They're trying to get out of a neighborhood that's been going downhill since the army base near by closed in 1993. Crimes (one murder and many home invasions) and sex predators have taken over their current neighborhood and they really want to move.
Is it legal what the realtor did?
If you sign the paperwork to buy a house, can the realtor let someone with a better offer take the house?Did your Aunt sign a contract and did the sellers sign the contract? If so, you need to read the contract, or better yet have a lawyer review it. They put contingencies in contracts, like the sale is contingent on your Aunt getting a loan. Or sometimes, the seller accepts the buyers offer, but reserves the right to sell to another person if they come a long with cash or such. Also, contracts are usually only good for a certain amount of time. If it's been monthins since she made her offer, the closing date may have passed, and the contract is null and void. You really nee to have a lawyer review the contract and advise your Aunt, right away.
More Related Questions and Answers ...
The loan information post by website user , we not guarantee correctness.
