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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33717
Experience:  15 years real estate, Realtor. Landlord 26 years
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In April 2, 2016, I went to place a bid on a home. I was

Customer Question

In April 2, 2016, I went to place a bid on a home. I was told that the seller had already accepted an offer. The next day my realtor called & told me the original buyer did not have funding therefore the house was available again. I then put a bid on the house. Earnest money & a letter from the bank regarding available financing was added to the bid. The seller accept the bid & papers were signed for me to purchase the home. I was to close on the home 5/13/16. Yesterday (5/5/16) the realtor called & told me that the original buyer ( who did not have funding) had put a lien on the home. The seller contacted an attorney. Today, the realtor calls telling me that I no longer have the home & the original buyer is getting it! I have already paid for inspections, title search, etc. how can this happen & what recourse do I have?
Submitted: 7 months ago.
Category: Real Estate Law
Expert:  Barrister replied 7 months ago.
Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question..Can you tell me what state this is in?.How badly do you want the home?.Are you willing to file suit over it?.Or would you walk away if your costs were paid and deposit refunded?.thanksBarrister
Customer: replied 7 months ago.
This is in the state of Kansas. The house is for my 83 year old mother who would be moving here from Missouri. I am willing to file suit over it if the cost is not too absorbent. What would the potential timeline be? Otherwise I will choose to walk away with my costs paid and deposit refunded. Can I include costs for deposits on the moving company and new carpet if I am being charged a cancellation fee?
Expert:  Barrister replied 7 months ago.
Ok, the reason the seller pulled the rug out is because the other first buyer filed the suit and even if the seller could win the suit, they don't want to spend $10K on defending against the suit and a year of their life before it gets to court..So if you were to file suit against the seller for breach of contract, then you could either continue on and try to get the first contract thrown out so yours can go through or at the least, have the seller reimburse you for your costs that you have expended in return for you dropping your suit..If you filed suit, unless the first party dropped their claim, then you are likely looking at $8-10K in legal fees and a year of having the house tied up. .But if you were to have a local attorney send a letter threatening to sue unless the seller reimbursed you, it is likely that they would do so just so they don't have to spend thousands defending just like in the first case...thanksBarrister

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