Legal Question in Real Estate Law in New Hampshire
purchase and sale
We signed a purchase and sale to sell our home but the bank cannot guarantee us they can give us the money we need to build until after the closing which will be too late. We want to back out from selling the house but the realtor is telling us that we can't and that we still have to sell it. Can you help?
2 Answers from Attorneys
Re: purchase and sale
Never take legal advice from a real estate agent... one, they have no legal training... two, they have a financial interest in seeing the sale go through, at all costs, in order to get their commission. Have a lawyer review your agreement to see what your options are under the contract. In the future, NEVER sign an agreement prepared by a real estate agent for the reasons listed above.
Re: purchase and sale
In order to explore options for dealing with a matter of this type I would need to examine the Purchase and Sale Agreement to see what terms and conditions apply. However, you certainly are in a difficult position. I'd also like to explore why the bank can't confirm your credit worthiness until after the closing. I would need more information in order to determine how best to address your situation.
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