alright this is kinda long! OK so we put a bid on a house that is bank owned. We live in michigan, it is a forclosure . We offered the full price, plus an addendum for $4000 over for closing costs (rolled into the mortgage). We did this with our buyers agent. The realty company that is representing the house is different than where our buyers agent is from. We closed on the house last friday, our mortgage was set and financed for that over amount. We got the keys, the deed was sent to our realty company. Later that day our buyers agent called and said we could not move in because the addendum never got faxed to the bank who owns the house. They changed the locks and half our stuff is now locked in the house until that addedum gets accepted. No one seems to know who did NOT fax that addendum. We still don't know if it's accepted or not (i call several times everyday to the buyers agent). Are we getting totally screwed? Should we get some legal help and guidance?
2007-03-07 13:55:30 · 4 answers · asked by sleep_chic 3 in Business & Finance ➔ Renting & Real Estate
You need a lawyer.
They got the money, you got the Deed.
It was their responsibility to make sure their papers were in order BEFORE they handed over the Deed.
All parties still have an obligation to cooperate in correcting errors after closing, but after you close on title they don't have any right to lock you out or deny you access.
See a lawyer.
2007-03-08 02:49:41 · answer #1 · answered by BoomChikkaBoom 6 · 1⤊ 1⤋
Speak with a lawyer,
Obviously the seller did not see a document (or says they did not). The closing statement (the HUD-1) should have made everything clear so when the deal closed then they sign accepting the HUD-1.
It could be that you were given the keys too early. If the deal was not completed and everything signed off there is no legal reason that you should have had access.
Let the lawyer tell you where you stand and if there is anything you should be doing.
Note that I am a bit surprised that you are paying more than they were asking so I find it hard to believe that they will not approve the sale. If the lender is fine with the structure the seller will not care that much.
I have purchased a number of REOs though I am not sure I am clear on all the details for this transaction.
2007-03-07 14:32:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would speak with a lawyer soon. The best and least expensive way to do that is through Pre-Paid Legal Services, INC. In my state a plan costs $17/mo and gives me a whole bunch of benefits including getting answers to any legal questions. Atleast look into it. I've had it for over 2 years and love it. One of the things that sold me was no long term contract. If I tried it and didn't like the service, I could cancel and only lose the $17+$10 (a one time processing fee to start).
http://www.getprotectedhere.com
Good Luck!
2007-03-09 03:49:23 · answer #3 · answered by memyselfandi 2 · 0⤊ 1⤋
If someone is denying you from your stuff you should call the police. That's what they do.
2007-03-07 13:59:44 · answer #4 · answered by GoodGuy53 5 · 0⤊ 0⤋