Q: What is the procedure to put a lien on a buyer’s home after a purchase offer is signed off by both parties
Two deals by out of town purchasers who submitted purchase offers on a home my husband and I own. After securing a loan and passing inspection the first buyer reneged on completing the deal. He is located in Connecticut .Is it possible to put a lien on his home in CT.? Second buyer(as I have been told) did this last year to another broker in the same area. She refuses to answer the phone or return calls then blames the realtor for not getting back to her. Any way to sue her and put a lien on her home? We live in Florida and our summer home is located in New York State in Jefferson County, town of Henderson.
A: You cannot lien someone's home because they will not buy yours. It does not seem that you even have a contract. A purchase offer is not enforceable.
A: Generally, when a real estate contract is executed, the purchaser makes payment of a 10% downpayment that is held in escrow. If it is determined that the Purchaser defaulted on the contract, the Seller has rights to retain the downpayment as liquidated damages.
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