Legal Question in Real Estate Law in Illinois
I had my offer accepted on a property that was not under contract by the individual. A week before closing the price went up saying it was a bank REO issue and could do nothing about it. What are the laws and penalty for a transaction like this?
Asked on 9/04/13, 7:41 am
1 Answer from Attorneys
Impossible to say. Was there a written contract with a firm price? Or was there a contingency for acceptance? Etc. There are a lot of laws but without the clear facts any firm response would be mere speculation. Sorry.
Answered on 9/05/13, 9:08 am
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