QUESTION

Real Estate. Sellers are hands off and FHA demands have cost me my rate. I wanted to back out but seller may sue me. What can I do?

Asked on May 22nd, 2018 on Real Estate - New York
More details to this question:
The sellers lawyer stated they were going to be hands off. When the FHA made demands that were sellers responsibility they did nothing. I had to paint the exterior door trim and my lawyer, realtor and I had to work for weeks to get the city code inspector to change the house classification which isn't my responsibility as the purcahser. Then FHA made a last minute request that took us past the rate lock date. I wrote a letter stating I wanted to back out and now I get a call from my realtor stating the seller wants to sue me. What can they sue me for and what are my rights?
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1 ANSWER

Estate Planning Attorney serving New York, NY
1 Award
The contract will govern your rights.  The Seller can likely sue to force you to close or forfeit your deposit.
Answered on May 23rd, 2018 at 6:42 AM

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