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1 posted on 11/19/2003 7:56:04 PM PST by Per-Ling
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To: Per-Ling
Well, if he consulted with God, maybe YOU should listen.
Sounds like you are "doing your own thing" and not responding to God's wishes.
83 posted on 11/20/2003 12:22:40 AM PST by CMClay
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To: Per-Ling
Although I don't practice law in your state, in my state -- New York -- you may have an equitable claim for specific performance because real property is considered unique and therefore, monetary damages will not adequately compensate you for the loss. Your rights and remedies may also depend upon the language in the contract. Many real estate contracts, for example, state that "in the event the seller is unable to deliver marketable title for any reason, the buyer's only remedy is the return of the down payment and a reasonable fee for conducting a survey and reading title." In my state, however, such a clause usually implies good faith on the part of the seller and thus, the reason the seller is unable to convey the realty must have something to do with marketable title as opposed to the seller simply changing her mind. If real estate brokers are involved, then you may also want to ask them to intercede on your behalf by reminding the seller that he still owes the broker a commission as long as the buyer remains ready, willing, and able to buy.

One last thought to everyone out there who likes to bash lawyers: In many states, you are not required nor is it customary to use a lawyer to buy or sell real estate. That's fine unless you are involved in a transaction gone bad (which is about 5% of the transactions my firm handles) and you end up spending many times more in legal fees to fix things than you would have spent if you had hired an attorney to do the closing in the first place. Indeed, I'm still amazed at the number of "sellers" who balk at spending $750 to hire an attorney to represent them in the transaction, but will pay a real estate agent a 6% commission for a couple hours work (that's $18,000 on a $300,000 house); and the number of buyers who will pay upwards of a $1000, as part of the mortgage fees, for the bank's attorney, who only cares about the bank's interests, but won't spend $750 to hire an attorney to represent their interests in what will probably be the largest expenditure and investment in the buyers' life.

89 posted on 11/20/2003 8:15:34 AM PST by Labyrinthos
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