I signed a contract on a house 4 month's ago and than 1 month after that I found out they didn't have the deed in there name. Is there any recourse I can take. Thanks garry
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I signed a contract on a house 4 month's ago and than 1 month after that I found out they didn't have the deed in there name. Is there any recourse I can take. Thanks garry
Is it possible that they have a contract to purchase the property and they planned on selling it to you once they took ownership? If so that is called "flipping" and is very common.
Tell us a little more about the situation and we can give you a better answer.
I have bought and sold 100's of houses, and never had many of them in my name.
I would buy one on a contract for deed. Fix it up, and sell it to someone else on a contract for deed. ( or rent it)
Then when I get paid, I pay, so my contract is completed @ when the other is, at closing, the house is signed over to the newer buyers.
This is very common.
ANY question on law needs to include your general locale as laws vary by area.
As others have noted, this may not be a problem if they have the legal right to sell. If they don't, then you cancel the contract. What other recourse would you expect?
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