Legal Question in Real Estate Law in Ohio

My husband and I purchased a home which is closing in about 15 days. We also have two other home mortgages. He told me last night he wants a divorce. Together we make a very good income, but the house is considerably more than either of us can afford alone and I have two young children and am currently 5 1/2 months pregnant. Is there any recourse to abort this real estate transaction, or must we follow through. How can I best protect myself and children?


Asked on 7/25/09, 12:43 pm

1 Answer from Attorneys

Dear Inquiring Wife: I recommend you immediately retain an experienced Counsel (Attorney) to represent you, in immediately notifying the sellers of the property, through the realtor, that you are withdrawing your Offer to Purchase, and cancelling your purchase, because of financial conditions, i.e inability to obtain a mortgage, among other reasons.

If the seller gets difficult and insists on your purchase (for specific performance of the contract of sale), you can tell the realtor that if you are not permitted to cancel, you'll file for bankruptcy and that will end that conversation.

Consult an experienced Attorney ASAP. Good luck!

Sincerely, J. Norman Stark, Cleveland,OH.

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Answered on 7/25/09, 7:55 pm


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