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Tax, SDIRAs & Cost Segregation

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Ira Jeter
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Seller Worst nightmare

Ira Jeter
Posted Oct 12 2019, 09:06

So my mother-in-law is in the process of selling her home with a realtor, and the end buyers somehow convinced them to let their family move in 2 days before the closing. Now the day before the closing the buyers decided to disclose an encroachment of the house against the city, to the title company halting the closing process after they’ve already moved in.

My mother-in-law’s realtor is supposedly speaking with a lawyer about the situation, saying they didn’t have intent to buy since they waited for the last minute to bring up this problem.

The Encroachment issue is the pool wires are crossing city lines underground, which would take x amount of time to fix as well as x amount of money.

My question is what would be the best way to solve this issue?

Try and fix the encroachment issue or go about the process of removing the buyers(squatters) ?? Also would removing them require an eviction process? This is In Virginia Beach, VA as we.

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