Real Estate Law

Have Real Estate Law Questions? Ask a Real Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Real Estate Law

I did not get my VA loan from the bank. How do i get out of

Customer Question
the contract?...
I did not get my VA loan from the bank. How do i get out of the contract?
Submitted: 4 years ago.Category: Real Estate Law
Ask Your Own Real Estate Law Question
Answered in 2 minutes by:
6/18/2013
Real Estate Lawyer: Law Educator, Esq., Lawyer replied 4 years ago
Law Educator, Esq.
Category: Real Estate Law
Satisfied Customers: 121,010
Experience: Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
Verified
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

What is your reason for getting out of the contract?

Can you please explain the circumstances, since written contracts are used to bind persons to the terms of the agreement and can only be broken based on breach of contract?
Ask Your Own Real Estate Law Question
Customer reply replied 4 years ago

first of all,


my Va loan did not get approve from the bank. Because the bank had needed proof of my 2 checks from me.


Also, I had did a walk through. I had notice that the second and third floor air condition did not work. All of this was during closing/settlement time

Real Estate Lawyer: Law Educator, Esq., Lawyer replied 4 years ago
Thank you for your response.

I understand, but could you please tell me did your purchase agreement have the standard mortgage contingency clause and also an inspection clause?

Did you raise the issues about the broken items and ask for them to be repaired?
Ask Your Own Real Estate Law Question
Customer reply replied 4 years ago

Yes. I had visit the house two time on June 13, 2013. Also, I had visit the house on contract ending date 14JUN 2013.


All three time the A.C. was not working.


 


The bank Lender: June 14-15, 2013


My underwriting manager is willing to accept a signed statement by you confirming you have not borrowed any money. Please let me know which is easier for you – copies of the checks from NFCU online, or a written statement. Please let me know if AC issue is resolved to your satisfaction and that you are going to closing.


 


 


 


Bank Lender on Jun17, 2013:


 


You need to speak with your attorney on this property first. Any letter I would write would be contingent upon successful release from this contract. If you decide not to close on this property, I am worried you may encounter considerable liability. Sellers and agents may well pursue legal action against you. Please do speak with your attorney to make sure you are protected and safe to walk away before you do so.


Real Estate Lawyer: Law Educator, Esq., Lawyer replied 4 years ago
Thank you for your additional information.

Legally we cannot engage in any representation of anyone from this site, so if you are looking for us to write you a letter regarding your rights to terminate this contract based on the loan contingency clause or on the failure to repair defects in the property after inspection, we are prohibited by law and site rules from doing so and I am afraid you would have to engage a local attorney in person to do something like that for you as this would violate the terms and scope of our service.
Ask Your Own Real Estate Law Question
Customer reply replied 4 years ago

I had told the agent that I did not need a home inspection.


But I did not turn down the walk through.


Will I be able to terminate this contract. Also, will I get to keep my deposit money.

Real Estate Lawyer: Law Educator, Esq., Lawyer replied 4 years ago
Thank you for your response.

If your contract had a mortgage contingency clause and you were denied the mortgage, this is one ground to cancel the contract without penalty and get your money back.

If you waived inspection, but there was a clause in the contract that made it contingent on your walk through and it did not legitimately pass the walk through based on the broken AC units, then this too would be grounds to terminate the agreement based on the discovery of defects on your walk through inspection.

The botXXXXX XXXXXne is you need to prove that one of the clauses in your purchase agreement was not legitimately satisfied in order to recover your deposit back and terminate the contract without penalty. If there are no legitimate grounds under the contract of purchase, then you can cancel the sale, but you would end up losing any money designated as "earnest money" for doing so absent a breach of one of the contingency or other clauses in the contract.



Thank you so much for using JustAnswer.com. I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered. PLEASE use REPLY to EXPERT if you would like more information or if you feel something was not included in your answer.

Kindly remember the ONLY WAY experts receive any credit at all for spending time with customers is if you click on OK, GOOD or EXCELLENT SERVICE even though you have made a deposit or are a subscription customer. YOU MUST COMPLETE THE RATING FOR THE EXPERT TO RECEIVE ANY CREDIT, if not the site keeps your money on deposit.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.

Ask Your Own Real Estate Law Question
Customer reply replied 4 years ago

page1image368 page2image368 page3image368 page4image368 page5image368 page6image368 page7image368 page8image368 page9image368 page10image368 page11image368 page12image368 page13image368 page14image368 page15image368 page16image368 page17image368 page18image368 page19image368 page20image368 page21image368

Customer reply replied 4 years ago

Relist: Other. line was disconnect

Real Estate Lawyer: Law Educator, Esq., Lawyer replied 4 years ago
Thank you for your response. Unfortunately, while I am online between 7AM and midnight most days, at some point I need to sleep. I apologize for making you wait during that time and not responding to you fast enough, I am truly sorry. I thank you for your patience.

Based on your contract, if you were not able to obtain the mortgage you are able to walk away from the contract without penalty. Also, it states on repairs upon inspection that the seller has an option to make the repairs or pay for them to be made to continue to bind you to the contract, but if the seller refuses to make the repairs or pay for them to be made, then you can walk away and get a return of your money. Again, you MUST take your contract to a local attorney if you want this given to you in writing officially, since the information here is provided merely for educational purposes and does not constitute representation as you were told above when we started.
Ask Your Own Real Estate Law Question
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 121,010
121,010 Satisfied Customers
Experience: Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.

Law Educator, Esq. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

11,126 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

7,785 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

7,559 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,925 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
I recently purchased a 1st. position mortgage in, New
I recently purchased a 1st. position mortgage in Elizabeth, New Jersey. The mortgagee is delinquent and will not pay, I want to start foreclosure proceedings but I found out that the mortgagee had pre… read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,126 satisfied customers
According to RESPA.... can a realtor send a mortgage loan
According to RESPA.... can a realtor send a mortgage loan officer a printed marketing checklist to help them with their marketing efforts as a promotional tool for the realtor? … read more
Alex Esquire
Alex Esquire
Managing Attorney
Doctoral Degree
153 satisfied customers
I have a three acre parcel, with an outstanding mortgage of
I have a three acre parcel, with an outstanding mortgage of about $25K. I want to pay off the mortgage and sell the property for cash to my son, who may develop it in the future. What legal services, … read more
Damien Bosco
Damien Bosco
3,370 satisfied customers
Is it legal for a mortgage lender to require the borrower to
is it legal for a mortgage lender to require the borrower to cancel credit cards as a term of qualification? This in effect forces them to hurt their credit worthiness for the future by unseasoning cr… read more
P. Simmons
P. Simmons
Attorney
Doctoral Degree
35,290 satisfied customers
My husband passed in 2014. I was not on the mortgage. the
my husband passed in 2014 . I was not on the mortgage. the bank allowed me to pay the mortgage off after my husbands death, but kept the deed in my husbands name. how do I get the house in my name … read more
Ray
Ray
Lawyer
Doctoral Degree
7,559 satisfied customers
I have a mortgage with a lender that I am not comfortable
Good morning. My name is***** have a mortgage with a lender that I am not comfortable with. Since 2015 I have been trying to move my mortgage over to an escrow account knowing that I was going to reti… read more
P. Simmons
P. Simmons
Attorney
Doctoral Degree
35,290 satisfied customers
My mortgage company is charging me an unknown fee that is
Second opinion] My mortgage company is charging me an unknown fee that is unusual. My loan was transferred about a year ago. My previous mortgage company never use to charge me this type of fee. Is th… read more
Bruce Schreiber
Bruce Schreiber
Juris Doctor
209 satisfied customers
Can a seller break a mortgage contract? Papers have been
Papers have been signed a home inspection has been completed. A closing date has been set … read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,126 satisfied customers
Second Mortgage with a bank different than the first
Second Mortgage with a bank different than the first mortgage holder . Second Mortgage holder just sent me a letter stating I had 14 days to clear this up, or they would begin foreclosure proceedings.… read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
In a mortgage on a condo that is jointly owned by where both
Second opinion] In a mortgage on a condo that is jointly owned by where both spouses are cosigners on the mortgage, how can one spouse get their name removed from the mortgage?… read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,126 satisfied customers
In a mortgage on a condo that is jointly owned by where both
In a mortgage on a condo that is jointly owned by where both spouses are cosigners on the mortgage, how can one spouse get their name removed from the mortgage? … read more
Ely
Ely
Counselor at Law
Juris Doctor
4,925 satisfied customers
If the title to the home and mortgage is in both spouses
If the title to the home and mortgage is in both spouses names, but one dies, should the other change the name on both in order to sell or bequeath the home? … read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,126 satisfied customers
If I am not the holder of the Mortgage, but the deed as
If I am not the holder of the Mortgage, but my name is ***** ***** deed as tenants in common. How can I get my name off of the deed?… read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,126 satisfied customers
I bought an older home. I had a home inspection. I just had
i bought an older home. I had a home inspection. I just had the foundation checked and it is sinking. Do I have any recourse on anyone. State of Va … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
TennesseeHad home inspection done. Did not see due to no
TennesseeHad home inspection done. Did not see due to no rain. Was not disclosed in disclosure sheets. Rained yesterday. Seeing prior water spots showing thru newly painted ceilings thruout several ro… read more
Attyadvisor
Attyadvisor
Doctoral Degree
7,142 satisfied customers
I sold my home FSBO. The buyer had a home inspection and
I sold my home FSBO. The buyer had a home inspection and terminate inspection both passed without problem. We set closing for 8/15/17. We moved to our new home 8/9/17. The buyers wanted to redo the ha… read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,126 satisfied customers
I purchased my home June of 2016-we had a home inspection
I purchased my home June of 2016-we had a home inspection (especially due to home being an historical home built in the early 1960s)and were confident when we moved in that there were no major issues-… read more
Bruce Schreiber
Bruce Schreiber
Juris Doctor
209 satisfied customers
16 mths ago, I purchased a home. Had a home inspection done
16 mths ago, I purchased a home. Had a home inspection done which was submitted to seller. Seller supposedly made the repairs especially to the roof and gutters; however, it was painted over and the r… read more
LawTalk
LawTalk
Attorney
Juris Doctor
6,207 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x