Seller not attending closing
I had a closing yesterday where I was making a nice profit, and the seller backed out four hours before closing. I have not been able to get a hold of him, so I recorded my interest in the records department. However, what do I do now. It has made me look funny to the end buyer who the assignement was going to . Any advice would be appreciated. Thanks again.
oo7icu,
Glad to meet you.
Would you please tell us what method of investing you were using in this deal. This will help in advising you as how to proceed.
John $Cash$ Locke
I was paying the sellers closing costs, he called me. And I assigned the contract to my investor, or the end buyer. He had a lot of title issue deductions to the city he was not happy with, and my title company was not helping him through some of this issues..
oo7icu,
So if I understand this correctly you had a Seller back out of your agreement with him.
Did your Seller find out how much you were going to make off of his house. This may be a reason that he did not show up at the closing.
You had a Buyer who found some surprises when he went to close on the property and was not happy.
Did you do your due diligence with a preliminary title search to find any of the issues that are no comming up at the title company?
I am trying to firgure out where this deal went wrong.
John $Cash$ Locke