We sold our home, and received an appraisel that went through a tougher edit with the buyers lender. The lender accepted the appraisel and we closed escrow. Now 60 days later, the buyer is threatening to sue for the difference between her new appraisel and our appraisel, Can she do this?
2006-10-02 21:12:07 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I have never heard of that before and sounds like they are just blowing smoke because they can. Besides it would cost them more out of their pockets to pursue you. Prices of homes change month to month anyway. I think she will be more upset when they laugh at her for such petty nonsense. Get peace of mind and call a lawyer. Call the bar for referrals, nine times out of ten you will get that advise FREE because of the referral. Never buy or sell property without one.
2006-10-02 23:36:05 · answer #1 · answered by Hun 2 · 0⤊ 0⤋
Sounds like they have buyer's remorse and are looking for someone to make it not happen.
Can they sue? Yes. Are they likely to win? No. Nonetheless, get a good lawyer, NOW. And it is possible that you can counter-sue them and end up with money out of the deal.
There is never a guarantee of value with real estate. It can and sometimes does lose value. If your buyers don't or didn't understand this, that's part of being grown up enough to buy property.
2006-10-03 01:25:12 · answer #2 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
They probably won't get anywhere if they try and sue you. It sounds like the appraisal they ordered must have had a lower value than when they had an appraisal done to purchase your previous home. The issue the buyers have is with the appraiser not you, you are not the one that completed the original or second appraisal. Sue them for harassment.
2006-10-03 12:47:34 · answer #3 · answered by greenshirt 2 · 0⤊ 0⤋
Appraisers opinons can vary. If the lender did a review appraisal and accepted the appraisal you provided, they might not have a chance.
However, as someone else said, anyone can sue for anything. You need to talk to a lawyer.
2006-10-05 07:34:21 · answer #4 · answered by txrealestateagent 3 · 0⤊ 0⤋
I answered you other question in reference to the non-disclousre issue and if this is the same property, you have some challenges.
Yes, buyers are suing over evaluation questions, especially where the market is shifting to a buyers market.
Please consider finding a good real estate attorney who can give you sound advise.
Its best to be proactive.
Best to you.
2006-10-02 23:59:18 · answer #5 · answered by Jimmy 5 · 0⤊ 0⤋
Anybody can sue anybody for anything.
2006-10-02 21:15:40 · answer #6 · answered by The Bird 3 · 0⤊ 0⤋