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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
is an accommodation and real estate directory, where real estate property owners or real estate agencies connect with vacationers and home buyers worldwide. If you are a seller, you can add listings in few seconds, and if you are a buyer you can search listings to find your dream property!
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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Wed, 10 Aug 2005 14:57:49 -0500
/ Author of the message: "news.purdue.edu" |
Title of the message: |
Re: Buyer Liability
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Text of the message: |
As I'm not a lawyer, I cannot provide legal advice. However, with my disclaimer out of the way, my general understanding is that your banker has to abide by the commitment letter, or there are several courses of action that can take place. 1st, you can (through court proceedings) force the lender to proceed with the original commitment letter, being that you have financially relied upon it. Or 2nd, you can walk being that they have broken the contract. That's why contracts are legally binding, so no party can say... oops, there was a misunderstanding; in order to financially benefit themselves at the expense of the other party. If you do walk, make sure you retrieve any monies you gave the first banker, like application fees, etc, since they were all based on the first commitment letter. If they fight it, you can show that what they pulled could be construed in court as a "bait and switch" or other |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.