Do I have any legal recourse against a buyer & real estate agent that knowingly lied about their ability to close on a home I am selling to keep things going?
As a seller,I entered into a housing contract with a buyer via a real estate agent for my house in Georgia(I am active duty military & transferred to Virginia). They have missed every timeline in the contract(due regard period,appraisal,funding letter) but did have a pre-approval letter for a loan. They advised that their lending agent dropped the ball & asked for a delayed appraisal period which I agreed to. Closing is in a few days & when I requested a status for closing they advised the lender was now working against them & they needed another 30-45 days. I contacted the lender & was told by the lending supervisor the buyers lost their pre-approved status over 30 days ago & the buyers & agent were aware despite the agent telling me otherwise(lying). Do I have any legal recourse?
1 Answer from Attorneys
The question (not really addressed in your post) is whether or not they breached the written agreement. From your post, it appears you agreed to at least one extension of a deadline and may have waived others. If you want to take the several hours of your time, and money, to try to sue them, then try to collect, you'll need to see a lawyer to review the documents. Alternatively, you might choose to direct your energy toward selling the house.