Fort Myers, FL asked in Contracts and Real Estate Law for Tennessee

Q: The funds from selling our house are delayed b:/c Buyers lender sent to wrong acc’t# NOT OURS. Options/Recourse?

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2 Lawyer Answers
Anthony M. Avery
Anthony M. Avery
PREMIUM
Answered
  • Knoxville, TN
  • Licensed in Tennessee

A: Did you sign the Deed? Hopefully not without being paid. Noone completes a real estate transfer without receiving some type of certified funds in hand. Wire Transfers are asking for a ripoff. Did anyone tell you that the funds were sent when they had not? You probably were talked into using a title company. You will not be able to sue the real estate agent for bad advice, because it was your decision. The sellers should always check over the closing instructions, item by item, or not go through with the sale. It is very possible that the title company gave the wrong numbers to the bank. The bank has no duty to you and the title company does not represent you either. The FBI may be able to trace the funds, but doubtful. setting as

Anthony M. Avery
Anthony M. Avery
PREMIUM
Answered
  • Knoxville, TN
  • Licensed in Tennessee

A: Suits for negligence, fraud, hopefully conversion, and setting aside the conveyance, should be filed against the buyers, the title company, and the real estate agents (with copies served on the Real Estate Commission). You will need to hire a competent attorney for money, not a percentage. Comparative Negligence will control here, but that is for the defendants to argue against each other. Gather all the evidence you can now about where the funds were supposed to go and where they went. I hope you closed in person. Otherwise everyone that knew that is suspect of being involved with the fraud.

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