Ask Experts Questions for FREE Help !
Ask
    Jonesy9859's Avatar
    Jonesy9859 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 23, 2013, 12:49 PM
    Liens against Property
    I was signed to purchase a property and paid my down payment 30K. I was unable to get the loan do to the property not being substantially complete (a Fannie May and Freddy Mac rule). So I could not by the place due to not being able to obtain the loan. The developer has refused to release the deposit sighting me as being out of contract. Am I able to file a lien in the state of MA on the said property?
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
    		  
    #2

    Oct 23, 2013, 03:08 PM
    It depends on the wording of the contract. The seller says you missed the deadline. Did you not have a lawyer? Is there no date by which you must get a mortgage or get a mortgage denial, or you forfeit your deposit?

    I knew someone who wanted to keep a large deposit and the buyers had a lawyer who basically strong armed him into giving it back. Consult a lawyer TOMORROW.

    A lien would not be the right process. You sue in civil court.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Oct 23, 2013, 03:25 PM
    As Joy said you need to read your contract. Very likely it says that you have to obtain financing by a certain date or you forfeit your deposit.

    On the other hand, if they had promised the property would be complete in time, they might be the one who caused the breach. So you read the contract carefully or take it to a lawyer to read.
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
    Expert
    		  
    #4

    Oct 23, 2013, 04:09 PM
    I've never seen a builder successfully retain a deposit when the buyer couldn't get the mortgage. But you can't put a lien on the property until you've sued the builder and won a judgment. Contact an attorney immediately.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
    		  
    #5

    Oct 23, 2013, 04:18 PM
    Other than a judgment lien (which you could perfect after you sued the seller and obtained a judgment), the only other type of lien which comes anywhere close to applying would be a lis pendens. The problem with that is that you are not suing to perfect an interest in the property; you want your deposit back. So no, it doesn't appear to me that you can file a lien at this point.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Mechanics liens and liens against property [ 3 Answers ]

I lent my son in law $10,000 to put down payment on a home about a year and a half ago My question is how do I put a lien on the house and which state do I do it in . I'm in Calif. And the house is isn't Arizona. And do I just record it with the county or court or what?

Several liens on property [ 2 Answers ]

I recently found out that I had several liens on my property, I had know idea this had been done, am I supposed to be notified of this? And how can I found out who has put a lien on my property?:mad:

Property liens [ 3 Answers ]

I need to find out how to determine how much a lien is.My grandmother is in a nursing home and I would like to purchase her home.She has left the house to my mother.Upon her passing Iwould like to buy the house.I know from public record that there are 2 liens but have been unable to find out the...

Property Liens [ 2 Answers ]

Hello, My name is Nicole Bridges. I am currently behind 5 months in my Condo Assessment fees. Can the Condo Association put a lien against my property for being behind in my assessment fees? Please advise. Thanks, Nicole Bridges

View more questions Search