Hi I rented a house then put an offer to but iy and this was accepted, the problem is that the P and S expired in July. The owner are not returning my phone call. I gave them $24,000 and they were to hold the mortgage. I want the house and the terms we agreed on. I live in Mass
2 Answers from Attorneys
You will need to have the P&S reviewed by an attorney, if it "expired" you may have forfeited your downpayment, unless there are safety provisions in the contract or their was some fraud or misrepresentation. Talk to an attorney ASAP.
Thank you for your question.
You must absolutely make an appointment with a real estate attorney, who can review the terms of your purchase and sale agreement with you. The penalty for breaching the terms of your purchase and sale agreement may include the complete loss of your deposits. It is so critically important that you have competent counsel to assist you in this process. The cost of a lawyer is a tiny fraction of the $24,000 that you have at risk.