Advice on breaking contract (Alameda County, CA)
I am the buyer of the house in Alameda County, CA. We are in contract (removed all contingency except loan and the loan should go through), and the deal was supposed to close in the 1st week of March. Just 4 days before closing, we came to know that there was a lien on the property (seller paid off the loan around 10 years back, but it was not recorded). We gave the seller 30 days to take care of the lien, and the clean record should come through next week.
Question – Given the job insecurity due to the COVID19 situation, we want to know if we can get out of the contract and get our escrow money back?