North Carolina  |  Real Estate Law

Legal Question

Asked on: 7/02/10, 9:18 am

We attempted to purchase a piece of land. In our contract it says that if we are not able to secure funding by 6/1 that the contract is void. The appraisle came back too low after 6/1 and the mortgage company wont approve us now. The land owners went a head and put well and septic in and are now sueing us to pay for that work.

1 Answer

Answered on: 7/02/10, 2:08 pm by Rachel Hunter

Read the offer to purchase agreement. Did you give notice to the sellers that you were not approved? When was the septic installed? All of this will depend on what the agreement says.

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