Maryland | Real Estate Law
Legal Question
In 2007, I purchased my home. Before I purchased the home, I had put a contract on the property which I was told by the owner was heading toward foreclosure. A short time later, my realtor told me that the property had foreclosed and was purchased by a developer. However, the developer was willing to sell it to me at the same price I was going to buy it from the homeowner. I decided to go ahead with purchasing it from the developer. My question is, if I already had a contract on the property and was told that it was not in foreclosure yet, was it illegal that the developer was able to purchase property right under me? If the house went into foreclosure while I had a contract on it, shouldn't I have been informed and allowed the opportunity to purchase the property as a foreclosure myself?
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