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Nesgroup address: misc.invest.real-estate - Date & Time for the message: /

Author of the message: "Liles"

Title of the message:
Buyer & Broker for Damages?

Text of the message:
After finally closing escrow (60 days) that was delayed 41 days by the buyer
I have accumulated over $8000. When I accepted the offer they were
pre-approved. Just over a week before closing I discovered the buyer had
decided to refi a property. At the time I was in escrow contingent upon the
sale of my property. The buyer's broker neglected to tell me about the refi
and it was not a contingency for the sale. He said loan docs had been drawn
up and they should still be able to close on time, but asked and was granted
a 7 day extension just in case. At the 7 day mark we discovered they had
started the refi the week before closing. The broker blatantly lied (&
continued to do so) about loan docs when the refi wasn't approved. At this
point I stood to lose money on a new home plus interest charged. The buyers
agreed to pay the interest and said they would close the next week. I stood



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