Hi Guys,

Myself and the seller signed a contract to purchase a property here in Palm Beach on November 15, 2008 to close on this December 10. But I have recently found out that this seller did a quit claim deed handing the property over to his corporation on November 21, 2008. Which makes the initial contract invalid. Not only is the contract invalid but I am not able to get a FHA loan or any loan for that matter approved for this property since it is < than 90 days the deed of the property has been transferred.

So to my questions are Is this legal for the seller to do after a signed contract is in place? And Is there any other way this transaction can be completed in < 90 days besides paying cash for this property?

Thank you any help would be greatly appreciated.

Hello new:

Of course it's NOT legal. He sold the house to YOU, and then sold it to somebody else.

I don't think you can complete this sale. I wouldn't trust the seller. I'd run away as fast as I could (once you stop payment on your earnest money check).

excon