Posted on: 22nd Jul, 2009 05:09 pm
I have a signed agreement to purchase 12 acres of land in Miss. I also have a signed and witnessed reciept of my earnest money on this land. The owner will not return my calls (5 days) knows I'm trying to contact him and I have heard through rumor that he is trying to sell the land to someone else for more money! Title search is complete and closing is almost ready. What if anything can I do!!
Hi,
If you've signed an agreement with the owner of the land, the seller cannot sell it to someone else. Much depends on what kind of agreement you've entered into. But at this point in time, I don't think you can place a lien on the property. As far as the earnest money is concerned, you're entitled to get it back, in case the seller backs out of the deal. If the seller has not made any such commitment in the agreement to sell the land to you, he can sell to someone else. But in that case, he must refund you the earnest money.
If you've signed an agreement with the owner of the land, the seller cannot sell it to someone else. Much depends on what kind of agreement you've entered into. But at this point in time, I don't think you can place a lien on the property. As far as the earnest money is concerned, you're entitled to get it back, in case the seller backs out of the deal. If the seller has not made any such commitment in the agreement to sell the land to you, he can sell to someone else. But in that case, he must refund you the earnest money.