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kin_rok

Deal going bad, would like some opinions.

I.A. Lokin
8 years ago

I know that people here can't give legal advice, but I was hoping a few of you would give your opinions on my dilemma.

My niece is in the process of buying a home, it is very inexpensive, being a fair bit less than $100,000. She is selling another home and I was planning on loaning her some cash. This was a cash offer.

Unfortunately, before the deal closed, my stock that I was going to sell tanked and her house didn't sell. Because of this, her grandfather offered to carry a loan for her. He began the process, but the loan was not going through in time. I called the agent and asked for an extension, explaining the situation. The sellers agreed, on the condition that the utilities be put in my nieces name. She has met this condition. Gas, Electric, and Water are all in her name. There was no definite closing date set when they granted the extension.

The sellers are now cancelling the sale. This is four business days after the original date.

Can they do this even though she has met the conditions of the extension? It does not seem that we are taking an inordinate amount of time waiting for the loan to go through.

Should we see an attorney? Could we possibly have grounds to force a sale?

Also, this is Pennsylvania, so we don't have an attorney now, as they are generally not used in real estate transactions.

Sorry so long, any advice would be greatly appreciated.

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