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Updated over 10 years ago on . Most recent reply

User Stats

116
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Ezra Nugroho
  • Investor
  • Milpitas, CA
103
Votes |
116
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Seller cannot close because of lien, what now?

Ezra Nugroho
  • Investor
  • Milpitas, CA
Posted

Hi BP.

Tomorrow I was supposed to close on a property, which we are now not going to. During the title search, we discovered a sizable second lien that they didn't disclose. When we mentioned the fact, they acted surprised. Can't say genuine or not.

Today they sent us a release of contract document, stating that they will send me my earnest deposit back. I am sure that they will do that, but I have put some money in for inspections and appraisal. Do you think it's possible to ask the seller for that back?

Anyone has ever had similar experience before?

Most Popular Reply

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22,059
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14,128
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,128
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22,059
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

No, you won't be able to get the up front costs you've spent from the sellers.  That's part of the cost of being in this business.

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