Legal Question in Real Estate Law in Missouri

Here's my question: my house is for sale and I accepted an offer on it. The buyers had a letter of pre approval from a bank and we had a closing date set for April 7th. All inspections and negotiation was done and we were just waiting on the back to order an appraisal. Our realtor assured us that it was a done deal so we found a house to rent in a nearby town. After spending a couple thousand dollars on the repair, first months rent, moving expens es, etc. we were told a week before closing that the bank lender was fired and their loan might not go through now. Here we are stick in a one year lease, out a lot of money, and now we might have to pay rent and a mortgage which will be impossible. What are our rights here and do we have any options? Thank you.


Asked on 4/04/14, 10:10 am

1 Answer from Attorneys
Anthony Smith LawSmith

The buyer may have a claim against the bank. You possibly have a claim against the realtor. (Obviously, you won't be paying them, if the sale doesn't go). The type and strength of your claim depends upon your contract with them.

Good luck

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Answered on 4/04/14, 4:51 pm


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