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Ask Tina Your Own Question
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I am selling my house for $167k, EMD was late by 7 days

Customer Question

I am selling my house for $167k, EMD was late by 7 days because buyer was still looking for a FHA loan not exceeding a monthly amount of $800. All contingencies were late, I requested 2 addendum cancellation from my agent and she stayed mum, she wouldn't do it. 24 days after the agreement I don't even know if the buyer has a loan, who is the lender etc.. I didn't receive a conditional loan approval but this is what I received below, a non stamped email (no sender), is this legal? this email doesn't look like a conditional loan approval to me. My agent said they don't have to provide a conditional loan approval for confidential reasons.
This it what I received, the same day the appraiser came, thus they didn't have the appraisal report yet.
Sent: Wednesday, May 11, 2016 10:30 AM
To: hidden
Subject: Queen/151116131424 - Initial Underwrite Completed - UW Status: Approved
Loan Queen/151116131424 has been initially underwritten and given an underwriting decision of Approved.
Loan Officer: hidden
Loan Processor: hidden
Underwriter: hidden
***This is an automated email notification***
Also, do I have the right to cancel the agreement with the buyer, even after the appraisal was performed? I have doubt she can get a loan and I am loosing time. There are too many breaches of contract and my agent is working for her best interest here not mine. What are my options? can I fire my RE agent/broker? if so how ?
I am so frustrated, I can't even start packing and planning my move.
Thank you
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Dwayne B. replied 1 year ago.
Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Also, I can only answer the questions you specifically ask and based on the facts that you give so please be sure that you ask the questions you want to ask and provide all necessary facts. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms. Was there a specific date by which the closing must be approved, earnest money must be give, or anything like that?

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