Virginia  |  Real Estate Law

Legal Question

Asked on: 1/08/08, 2:20 pm

Home Sell without Authorization

Home was purchased, 6 years later, we found out that the party selling the home wasn't legally authorized to sell the home. Now, we are unable to sell the house for profit.

The mortgage company has taken over taking payments from the existing renters.

Who do we hold accoutable for not verifying that the people who sold us the house were in fact authorized to sell us the home?

Do we rate the return of all the money spent on repairs done to the home over the years, the original closing costs for the purchase of the house, the principle and interest paid to the mortgage company who loan us the money for the home?

This is obviouse a major issue and has been ongoing for a year.

The mortgage company wants to help by allowing us to sign papers deleting us from the original mortgage but they take over the property in terms of collecting rent.

We are out the original closing costs plus all labor and expenses to upgrade the home as well as principle paid on the balance of the loan as well as 6 years worth of interest paid on the loan.

Who should we focus on regarding our losts?

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