Have you signed a contract and now you cannot get in touch with the buyer? Has the closing date already past? Is the investor and/or title company giving you the run around? If you are in this situation, you are not alone! I get several calls from home owners every month that have sold their house to an investor and now they can’t get anyone to answer the phone. Here is my advice on how to handle this.
First, most contracts do not expire. You need to take a look at the default section of your contract in order to understand what you are supposed to do. This section may tell you to send a notice in writing. It may tell you that an email is acceptable. While I am happy to read over contracts for people, I am not an attorney. If you are past the closing date and cannot get the investor to sign a release of contract and earnest money, you may need an attorney to get involved.
Before you call a real estate attorney, to to find the Contact name and information of the escrow officer or title company on the contract. This should be easy to find. You can start with emails and phone calls, but you may need to drive up to the office to get a straight answer. Many times, the title company does a lot of business with the buyer, and will try to keep them happy. Title companies are supposed to be impartial third parties, but sometimes they are not.
It’s my opinion that you should never sign a new contract until you have a signed release on the original one. I often find that in these situations calm, level headed communication can resolve most disputes, even if it ends in everyone agreeing to go their separate ways.
Check out our other articles, and give me a call any time you have a question.