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Real Estate--Should We Sue for Earnest Money?

We are the sellers of a home in Oregon. At the time of final underwriting it was discovered that the buyer failed to disclose a business loan over 1 million dollars that they had signed a personal guarantee on. They also failed to disclose multiple other properties they owned. This put their income/debt ratio over the limit, and the sale of our home fell apart.

Our realtor advised us to seek legal counsel to keep the earnest money (not a small amount), as it could be argued the buyer did not act in good faith by failing to disclose the loan plus the additional properites. We are doing that, but also wanted to ask here for people's thoughts. Happy to answer any follow-up questions.

submitted by /u/HouseHunt789
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source https://www.reddit.com/r/RealEstate/comments/hn83jg/real_estateshould_we_sue_for_earnest_money/
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  1. Jennifer K RobertJune 25, 2021 at 3:56 PM

    Hi everyone, My name is Jennifer from New Jersey , I saw comments from people who had already got their loan from Anderson Loan Finance. Honestly, I thought it was a scam, and then I decided to make a request based on their recommendations. A few days ago, I confirmed in my personal bank account amounting to $15,000 dollars which I applied for. This is really a good news and I am so very happy that I advise all those who need a real loan and who are sure to reimburse to apply through their email (text or call) +1 719 629 0982. There are sincere loan lenders! They are capable to lend you a loan. Contact Mr Anderson E-mail: andersonraymondloanfinance@gmail.com

    Phone: +1 719 629 0982


    E-mail: andersonraymondloanfinance@gmail.com

    Office address is (68 Fremont Ave Penrose CO, 812400).

    ReplyDelete

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