topic Re: Involuntarily converted in Home loans

Involuntarily converted

Thomas47lopez — Sun, 15 Sep 2019 15:25:00 GMT

I was in the process of buying a condo and found out it was involuntarily converted. What should I do?

Re: Involuntarily converted

Anonymous_ — Sun, 15 Sep 2019 15:42:11 GMT

You had a contract to buy the condo and, during the time the contract was pending (prior to closing), the condo was destroyed, condemned, or something similar?

If so, you should seek legal counsel (or at least discuss the situation with your real estate agent/broker). Virtually all contracts to purchase real estate have a clause or clauses that address this scenario.

Re: Involuntarily converted

Critter — Wed, 18 Sep 2019 21:56:58 GMT

Agreed ... since the seller cannot give you clear title there should be a clause that not only lets you out of the contract but also gets your earnest money back. Seek a real estate attorney if necessary.