 If you owned a house and lost it to the bank and it sells for more than was owed, are you entitled to any? |
| My exhusband and I bought a house together and both names were on the deed, but only his on the loan. He let it go back and it has sold for $5500.00 more than was owed on it. He claims he is ... |
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 Trying to sell my house, why won't anyone put a bid on it? |
Additional Details
I am in the Northern part of Minnesota, town of about 11,000. There are quite a few house on the market here, none of which have a pending sale, or sold sign on them.... |
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 HELP I'm house sitting? |
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 My tenancy is about to expire and the agent told me I cant move out as the others want to stay is this true? |
| I am in a joint short hold tenancy that runs from the 12th of October 06 to the 12th of October 07. I would like to move out on this date but the others wish to stay on. I have been told by the ... |
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 Lying on your mortgage application? |
| I want to lie on a mortgage app and state that I will live in the home when I acutally intend to rehab and sell the home without ever living in it. Yes, I know morally and ethically wrong. But ... |
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 My roommate didnt sign the lease and we want her out how can we legally kick her out? |
| well my roomate didnt sign the lease when she moved in and now we want her out, doesnt she have to sign the lease to have part ownership of the apartment, the management said she has as much right as ... |
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 I'm considering selling our house and renting instead as I think prices are peaking. Is this a sensible move? |
We have equity gained from a repayment mortgage, deposit plus the rise in prices since we bought our flat in SW London 3 years ago.
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 Renter's dilemma...can he evict me? |
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 How does a person with a credit score of 560 get a loan to purchase a home for the first time? |
| My husband and I want to buy a house but our credit is not the best, and we live in Las Vegas, NV. What kind of govenment loans are there for first time buyers with less than perfect credit....anyone?... |
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 On my door tonight I found a notice "Immediate Termination Notice"? |
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| We bought a home as an investment to "flip" and now the buyer's mortgage company is asking why we flipped it and I am wondering what the problem is? They told me the bank does not ... |
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 Is the agent lying to me? |
| I recently put in a low starting offer for a house I love. I gave it to my agent to give the listing agent/also the home's owner. Well she came back to me demanding my biggest and best offer, ... |
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susieq | My realtor finally told us what the prob is with they buyer not being able to get a closing date on our home.! |
I have posted the ? about "why has the buyer of our home not been able to get a closing date from her mortgage company for over two weeks?" We were supposed to close on 9-29 and it keeps getting delayed. Everyone says that we are just waiting on the packet to be sent to the title company. TRUTH is that the buyer of our home did not inform the lender that this house was not going to be a primary residence home, she is using it as a rental; therefore, tying up the processing of the paperwork. So the ? is, what do you think "we" as the sellers should do in this matter? Should we wait another 1-2 weeks for a closing date? or should we put it back on the market? or make her waive her initial $1000.00 she put in escrow, and take it, and sign a new contract with a new amt put into escrow? How would you proceed in this matter, since she "the buyer" has not been up front and honest with us or her lender? |
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Rico
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Depends how hungry you are in a buyer's market.
Seems to me you could just get the broker to find out if they really want the place, then agree on a new closing date, with performance conditions on the part of the buyer. Otherwise, dump em and move on.... |
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appstate
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Depending on what state you are in. I would convert the offer into an option on the property. Tell your agent you would like to change everything to a 30 day option on the property. The buyer would give you a non refundable Option fee of whatever you want to set it at and you would keep it if they don't buy the property if they do buy the property that would go towards the purchase price. I would give them 30 days tops and if the property does not close in 30 days they forfeit the option money no questions asked and the house goes back on the market. This way you get money for your time the house is off the market and give the buyer more time to get the loan. Check with your agent and besure you can do this in your state. |
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newmexicorealestateforms
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First of all ask the agent you are working with. I would negotiate an extension for $$$ I would not simply give one. One alternative is give them a right of first refusal and put it back on the market. |
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LARCO
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I would fire your agent. This is ridiculous and not professional at all on the part of your agent. the agent could have found out with a 1 minute phone call to the buyers bank or the buyers agent. |
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Big Willie Style
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good ? it comes down to the inconvenience u feel has been put on u...... don't u think? |
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ellikat21114
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Are in you a time of the essence state? If not, you may be forced to wait for a time period that a judge would consider reasonable and fair for the buyer to complete the transactions. Reasonable and fair might be 30 additional days.
Are you entitled to her earnest money? What does the contract say? If it says, in the event a buyer misrepresents themselves financially the seller then has a right to void the contract and keep the money.
Are you in such a hot market that you have another buyer lined up or do you think that you could sell the house for more now? Might be in your best interest then to end the contract.
Of course, the best solution is to extend the contract for a reasonable (being a key word)amount of time and go to settlement.
You also can't 'make' her waive her $1000 earnest money. She has to agree to this.
Don't get all bent out of shape. A $1000 isn't a lot of money to go after. Just think of the lawyers fees. And when in doubt if you can 'get out' of a contract, consult a lawyer. |
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Alterfemego
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I would still discuss with your Realtor, putting your house back on the market. If the buyers are able to put together a loan for this, and schedule a reasonable closing date, fine.
I'm already getting RED FLAGS. Ask alot of questions of your Realtor. If you don't feel satisfied, call your Realtors Broker. |
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GirlUdontKnow
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it will probably be less expensive for you to wait for her, than have to wait for another buyer and start the process all over. |
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You are loved
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Wow! What a dilema, sorry this happened, the problem is that if you put it back on the market, it is likely that the home will sit there for a few months, as the market keeps fluctuating, I would let the buyer's agent know that you will have to take back up offers, just to cover yourself, it is sort of putting it back, and it's really not the buyer's fault as it is the agent's the agent should've known this, if she received enough evidence that buyer was a serious good buyer without surprises, this is why it's so important to ask all these questions from the very beginning, someone dropped the ball and doesn't know how to handle the transaction, if the buyer only put $ 1000 in escrow it is nothing and it obviously means this buyer might not be a solid one, because if she could afford an income property wouldn't be hidding any of the facts, income properties, when bought as such, obviously come with very different terms, different interest rate, and different amount of down payment, and buyers must be prepared for such expenses and to provide down payment.
I would then put it back on the market if this doesn't close within a week tell them you are going to have to, because if they say they are sending the package to title, that's such a lie, and that doesn't take anything, or time. Let them know you need to hear from the lender or buyer's broker and you need to call them yourself, and do so, you need to mean business. And yes next time ask for at least a $5,000. deposit. it's nonrefundable, should escrow fall through. (Let the new buyer know)
Good luck |
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txrealestateagent
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I haven't seen where you indicate the state you are in, so check this idea out your your Realtor. Here is what I do in Texas.
Since the buyer missed the closing date, they are likely in default of the contract. Tell them they have to do an extension of the closing date in order for you to continue. As part of that agreement, have them fill out the proper form for your state (ask your Realtor) that will release the existing contract and give you the earnest money if they don't close by a particular date.
If you have them sign the "release" document in advance, you can then sign it and release the contract at your convienence.
ONCE AGAIN, TALK TO YOUR REALTOR AND SEE WHAT THEIR RECOMMENDATION IS. YOU MIGHT ALSO NEED TO CONSULT AN ATTORNEY. |
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Pay No Taxes For Life
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If the buyer completed a loan application called "Uniform Residential Loan Application" or 1003, and indicated that it was to be owner occupied, they committd Fraud and you will need to seek legal advice as how to proceed. However, if you want to sell your home without legal action, then look at this as a business and make your decision based on that. Yes, they lied, commited fraud, but sell your home and move on. If they are qualified for the loan as an investor, then get a committment letter from the lender to such. You may find addifional helpful information at www.paynotaxesforlife.com |
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Searchlight Crusade
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Find out if you're wasting your time. Do they have the down payment necessary, and will they qualify for the loan as investment property? (which is significantly harder to qualify for)
If not, give them a notice to perform and put the property back on the market.
If yes, decide whether you want this transaction bad enough to keep waiting, but waiting for them to find another lender who's sucker enough to believe it's going to be owner occupied is a waste of your time. |
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