Lawsuit- seller failed to close- experience

[Mak K.]

I am the buyer .

Had a contract where a seller failed to close the deal. It was seller issues but also the seller bank failed to provide documents on time (private lender issues) which lead to title company not doing its due diligence.

any ways, anybody in the past have been involved in such lawsuits and how expensive are the lawyers and what is the outcome. How much money were you able to really collect?

reason I ask how much were you able to collect is due to the fact seller/owner usually do not have insurance so it's tough to go after them when they are almost bankrupt.

[Chris Seveney]

in many instances, it's not going to be worth it, especially if the seller has no funds or as close to Bankruptcy. Because you're just going to spend additional legal costs in attempt to get the property which you still may not get especially if they owe the bank more than what the property is worth. You cannot force a bank to accept less than it's payoff