Updated over 5 years ago on . Most recent reply
Seller arrested, what do we do?
Long story short, my partner and I found a 20 unit duplex lot that we got under contract about 2 months ago. The buyer has been extremely interested in purchasing the contract from us. Already has a loan ready to use to rehab the entire property. However, the seller & his wife have been arrested this past weekend for BIG drug trafficking charges.
We had a closing date for this week on Wednesday 8th, 2020. However, the seller wasn't able to sign the contract before he was arrested.
We've been in talks with our attorney to try to figure out how to get the sellers (in jail) to sign the contract before this Wednesday.
This is the first time we've run into a situation like this.
Any other BP members had an experience like this?