I’m in a frustrating situation with a buyer who decided not to proceed with purchasing my property at the last minute but refuses to release the Memorandum and Affidavit of Real Estate Purchase Agreement they filed with the county clerk. This is preventing me from selling the property to anyone else because of the cloud on the title.
Here’s what happened: we made it all the way to closing, the title search came back clear, and I signed all the necessary closing documents. I was waiting for the wire transfer of the payment. However, later that day, instead of receiving the funds, I got an email from the buyer’s side saying their underwriter wouldn’t proceed and they were deleting the file.
But despite them backing out, the Memorandum is still on file with the county clerk. I can’t sell my property to anyone else with this still in place. My question is, what could be their motive for not releasing this? Is my only option to hire an attorney and take this to court? This whole situation feels like it’s stuck in limbo, and I’m not sure what to do next.
If they refuse to release their claim, you might want to let them know that you plan to hire a lawyer and potentially sue them for slander of title. This could push them to take action. If that doesn’t work, it might be time to get legal help. You really shouldn’t have to deal with this.
This is definitely a legal matter at this point. You’ll need to retain a real estate attorney who can help you file a quiet title action, which would clear the cloud on your title. The buyer’s motive could be that they’re trying to force you to sell to them or potentially extort money. At this point, it’s best not to engage with them directly—let your lawyer take care of all communications and negotiations.
@Piper
It doesn’t seem like the agent is involved here at all. This sounds more like a legal issue between the buyer and seller, not something that would involve an agent at this point.
@Piper
Exactly. The original post didn’t mention an agent. It could very well be a private sale, and the issue here is entirely between the buyer and seller. This is where a real estate attorney comes in to deal with the legalities and clear up the title.