We just signed docs w/ a seller who is in foreclosure, got P&S, Warranty Deed, Authorization, Notice, Limited Power of Attorney, ect. It was all signed by notary and witnessed. He is now trying to back out. Anyone w/ experience please give insight.
get an atty to double check everything…sounds like you have everything in order
Have 3 days past?
Most states have right 3 day right to rescind or something similar to that.
After that…its up to you.
Legally you have the deed and the power…see below if you want to execute that power.
I personally would move on to the next sale because of ethical reasons.
If you feel that you want to move forward and you feel that you have the right to proceed…
File the deed and fast.
Once that deed is filed they cannot back out…they will have to try to sue you…but everythings in writing in your favor.
At this time they can deed the house to someone else and if that someone (mother, brother etc.) gets to the courthouse before you… you have nothing…
Sure, you have a contract but you will have to sue them and all the mess that comes with that.
Live Long and Prosper
I would really try to find out why the seller wants out?
Did they get a better offer? Or have they found a way to solve there own problems. If that is the case I think you may want to let them out. Your good carma will come back around.
Good Luck