Withdrawing From House Sale – What Now? : RealEstate

To make a very long story short, I relocated across the country (AZ to CT) and arrived in CT on the 3rd of November, my closing date was set for November 6th and we were cleared to close. Everything looked good and sounded promising. 30 minutes before the final walkthrough (an hour and a half before the closing time) we got a call from our attorney saying that we couldn’t close because only 2/3 releases on the title were obtained. I’m not sure where the lack of communication came through for the third one, why it was canceled so late etc, but it happened.

Our attorney assured us getting the third release shouldn’t be complicated and it would only take a few days… Apparently our lawyer went on vacation the 7th, was gone for a week and people in the seller’s office also were out on vacation. Nothing got resolved ‘quickly.’ We waited, and waited. Requested updates, the third release was through some grant and they were having issues getting it. Then with Thanksgiving.. we figured we were relatively screwed for the remainder of the month.

The paralegal told us that in the state of CT the seller has a reasonable amount of time to rectify a situation before it’s considered breach of contract, which is why we didn’t take any action immediately. On the 3rd of December, with no release for the 3rd mortgage still obtained, we told our lawyer we wished to withdraw our offer, cut our losses and move on. All hell broke lose. It was an in house sale for the realtors, the broker is calling freaking out, the attorneys are calling freaking out, they’re offering to fix it that day, close in escrow, etc. We told them we weren’t closing without the titles completely cleared, we wanted out. We were done.

Magically they claim to have gotten the title clear today but we’ve already put in our formal offer to withdraw. The seller’s are apparently pissed, we are pissed, this was a waste of time. The sellers haven’t offered any incentives for us to try and get this deal to work and at this point, after relocating across the country and essentially being ‘homeless’ for over a month, we don’t wish to deal with any of these agencies (lawyers, real estate office, etc) anymore.

Our lawyer, who was recommended by the realtor (in house sale don’t forget) said the seller’s could potentially sue us for specific performance and force us into the deal. It feels like he was trying to scare us into purchasing the home, but the sale’s contract clearly states failure to produce a clean title within 30 days of a found deficiency is reason enough to terminate contract with return of deposits and other costs (appraisal & inspection.)

Honestly, we don’t even want to go after the appraisal & inspection costs, we want our deposit back and just the clear mind that we can move forward without possibly being sued. What can they do now? Are we clear? Can we get our deposit back without issue?

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