selling, title/survey problems

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2 total messages Started by Double A Wed, 10 Aug 2005 00:19

#121

Author: Double A
Date: Wed, 10 Aug 2005 00:19

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I have encountered a problem closing on a rental property that I have
had a contract on for close to 3 months.
The buyer brought a contract and downpayment for a rental property that
I am selling.  At the end of the contract there was a clause that
stated that "closing would occur in 14 days depending on survey and
title"
Survey came and discovered a section of 'wasteland' connecting two
properties, (my home and the rental property that I am selling).
Now either the survey and title companies are not doing their jobs of
something else is going on.
The buyer is a well known builder/developer who knows many people in
the business.  The buyer says he still wants the property, however is
not in as much of a hurry to buy as I am to sell.  This buyer does not
want the down payment back and is ready to wait until title problems or
settled.
I have another potential buyer who is ready to write a check to me and
is not concerned with the title problems.
Am I trapped in this contract?  Or is there anything I can do to speed
up this selling process?  Any advice would be appreciated.
Thanks.

Re: selling, title/survey problems

#122

Author: .·°~ SleazzyWeasel ~°·.
Date: Fri, 12 Aug 2005 12:51

35 lines
3418 bytes

In article <1123633180.864793.173270
@g44g2000cwa.googlegroups.com>, aaronlh11@yahoo.com says...
> I have encountered a problem closing on a rental property that I have
> had a contract on for close to 3 months.
> The buyer brought a contract and downpayment for a rental property that
> I am selling.  At the end of the contract there was a clause that
> stated that "closing would occur in 14 days depending on survey and
> title"
> Survey came and discovered a section of 'wasteland' connecting two
> properties, (my home and the rental property that I am selling).
> Now either the survey and title companies are not doing their jobs of
> something else is going on.
> The buyer is a well known builder/developer who knows many people in
> the business.  The buyer says he still wants the property, however is
> not in as much of a hurry to buy as I am to sell.  This buyer does not
> want the down payment back and is ready to wait until title problems or
> settled.
> I have another potential buyer who is ready to write a check to me and
> is not concerned with the title problems.
> Am I trapped in this contract?  Or is there anything I can do to speed
> up this selling process?  Any advice would be appreciated.
> Thanks.
> 
> 

your best course of action would be to seek legal council

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      .·°~ §LëAzZ=3F WëA§ëL ~°·.
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