Legal Question in Wills and Trusts in California
Why isn't my money as good as somone else's
The judge would NOT accept my offer, the highest bid, on my mother's house because I was financing versus cash. The days to close the deal with escrow would be the same after over 1 1/2 years, what is another 5 days? I was PRE-APPROVED for the loan. So, how many days can I stay here before I am FORCED to move? I have been paying all the house's expenses and utilities for 13 months. Plus, I recently had spinal cord surgery and can barely walk. Unruh law applicable? 1946.1 applicable?
1 Answer from Attorneys
Re: Why isn't my money as good as somone else's
There is a big difference between cash up front and a lender's promise to lend you money. For the latter, something might happen [interest rates go up, you change your mind, etc.] that would prevent your paying the full amount. Also, loans normally take several weeks to fund but cash is a one day wait in the sale.
Have you been renting the house or just living there and taking care of it? It sounds like the latter, so you have no right to actually be there and they could treat you as a trespasser unless while alive your mother had given you permission to live there. The owners are not discriminating against you so the Unruh act would not apply. Check to see if there is any local rent control law. If the buyers just want to rent the place out, see if they will rent it to you.
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