Illinois  |  Real Estate Law

Legal Question

Asked on: 10/14/13, 9:17 am

Hello, My house is currently listed for sale. Unfortunately, due to an extreme hardship I had to do a short sale. I had a person make an offer towards the end of July and the contract was signed The person gave an offer of ten thousand dollars. The bank approved the short sale and advised closing would need to take place by October 25th. On last Thursday I received an email notification from the realtor that the home was scheduled for viewing. I contacted the realtor to find out the buyer stated he was no longer qualified for a loan. I received no documentation to verify this information. Please advise since the buyer cancelled the deal; is he entitled to be refunded the earnest money. As stated, I have been experiencing an extreme hardship for over a year. I had tripe bypass heart surgery, I returned to my job after a year only to a decreased salary. After six months I was terminated. Since July of last year, I have been unable to meet my obligations as I had always previously done. To avoid any further hardship, I decided to place my home up for sale I apologize if I provided more information than needed. I would appreciate your assistance with this matter. Thank you in advance for your reply.

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