Builder Closed for a price now broker expect overage money returned

[LdiJ]

I disagree it is bad advice. The money apparently is in dispute. It is likely to be easier to not spend it than it would be to acquire the same amount again, should the money need to be refunded.

Oh come on, now you are just ignoring the specifics of what I said.

 

[quincy]

I have an appointment soon with the number one real-estate law and contract attorney in town ... The broker told me I could take the check but if I did to expect a legal show down with the customer who bought the home....Here is one possible theory of mine. The broker in error rolled in too many overage upgrades into the loan by mistake and wants me to pay the customer back what couldn't be included in the loan.

I am going by these ^^^ statements by smutlydog.

smutlydog has consulted with attorneys - and he should continue to do so. He should rely on their advice.

What we say is of little importance. And I have not ignored anything.

 

[Bali Hai Again]

The last 4-week T-Bill auctioned at 5.395% annualized return. Get the 25k and buy a 4-week Bill with it. Keep reinvesting every 4 weeks until the mess is straightened out. That way OP puts $112.40 in their pocket every month. I hate to see money stagnating like mine has been for the last decade!

 

[quincy]

That is better than spending the money.

 

[smutlydog]

Thanks for all the replies. Its been helpful and even more helpful when you guys debate each other.
We took way too long building this home and I had to pay for several rate lock extensions along the way. Can I be sued (successfully) for breach of contract for the delays in construction after the closing is complete? By the way I still trying to get my attorney to pay for part of this mess .
I meant broker

 

[quincy]

Thanks for all the replies. Its been helpful and even more helpful when you guys debate each other.
We took way too long building this home and I had to pay for several rate lock extensions along the way. Can I be sued (successfully) for breach of contract for the delays in construction after the closing is complete? By the way I still trying to get my attorney to pay for part of this mess .

You can be sued (anyone can sue anyone else for pretty much any reason at all) but the success of any lawsuit is beyond our abilities to determine. Your attorney is in a better position to give you an idea of your chances at winning any lawsuit filed against you.

 

[LdiJ]

Thanks for all the replies. Its been helpful and even more helpful when you guys debate each other.
We took way too long building this home and I had to pay for several rate lock extensions along the way. Can I be sued (successfully) for breach of contract for the delays in construction after the closing is complete? By the way I still trying to get my attorney to pay for part of this mess .

Why are you trying to get your attorney to pay for part of this mess? Did you misspeak there? Whether or not someone could successfully sue someone for any issue depends on the details of the issue. Therefore, the reasons for the delays and the details of your contract would be the major factors in determining whether or not you could be successfully sued for the delays. The attorney you consult (or should have consulted) will be able to best advise you there. Although again, you have closed on the deal which should make it more difficult for someone to sue.

 

[smutlydog]

Why are you trying to get your attorney to pay for part of this mess? Did you misspeak there? Whether or not someone could successfully sue someone for any issue depends on the details of the issue. Therefore, the reasons for the delays and the details of your contract would be the major factors in determining whether or not you could be successfully sued for the delays. The attorney you consult (or should have consulted) will be able to best advise you there. Although again, you have closed on the deal which should make it more difficult for someone to sue.

I meant broker

 

[quincy]

I meant broker

I will be interested in learning how this all turns out for you.

 

[smutlydog]

I will be interested in learning how this all turns out for you.

Maybe I could of kept the money but I didn't want any legal problems. My broker paid $8,000 and I paid the rest.

 

[quincy]

Maybe I could of kept the money but I didn't want any legal problems. My broker paid $8,000 and I paid the rest.

Thank you for the update, smutlydog.

I am glad you and the broker were able to resolve the dispute outside a courtroom. This might not have been an ideal resolution from your perspective but it undoubtedly saves you the time and expense of any lawsuit.

I recommend in going forward that you keep good records of all expenses and have all requested contract-changes reduced to writing and signed/dated by all parties.

Good luck with your remaining building contracts.

 

[smutlydog]

Thank you for the update, smutlydog.

I am glad you and the broker were able to resolve the dispute outside a courtroom. This might not have been an ideal resolution from your perspective but it undoubtedly saves you the time and expense of any lawsuit.

I recommend in going forward that you keep good records of all expenses and have all requested contract-changes reduced to writing and signed/dated by all parties.

Good luck with your remaining building contracts.

thank you

 

[quincy]

thank you

You’re welcome, smutlydog. The thanks are appreciated.