Can I sue for the $8,000 first time home buyers tax credit?
Query by Greg: Can I sue for the ,000 first time home consumers tax credit history?
Agreement was signed in February for a quick sale property. Seller never ever declared any liens on the home. Title research was carried out, and a 2nd house loan showed up so it did not appear like a lead to for concern. One particular week prior to the four/thirty deadline to indication a agreement I was instructed by the vendor that the “second mortgage” was truly a lien placed on the residence. As well late to locate yet another home.
Seller’s brother was arrested the yr just before and the seller put his home up as collateral. He never paid the bondsman his price so the lien was placed. According to the seller’s attorney the bail bondsman would not launch the lien. Sooner or later my legal professional was given permission to talk to the bail bondsman’s legal professional as nicely as the limited sale lawyer right. After my law firm spoke with the bail bondsman’s legal professional he agreed to drop the lien. My lawyer spoke with the brief sale legal professional to give him the “green gentle”. Brief sale legal professional states he isn’t going to think the closing can occur any quicker than the center of July. $ 8k credit history closing date is six/thirty.
I’ve currently dropped practically $ 2k in the residence to get it to “CHFA-authorized” standing (Connecticut FHA house loan). I am suing the vendor for the $ 2k, but can I potentially sue either the seller or the seller’s lawyer for the $ 8k tax credit history? He sat on his palms in the course of this total method and lied about speaking with the bail bondsman’s legal professional. It wasn’t until finally my attorney asked for to speak right with whomever the seller’s lawyer must be interacting with right up until we observed final results. And now I will be two weeks way too late to accumulate the tax credit history. Do I have a valid situation for punitive damages?
Best answer:
Answer by jlf
You can not productively sue for nonreceipt of a tax credit rating. Widespread perception should have informed you not to get concerned with a brief sale if you might be worried about closing in a hurry.
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Best advice I can give since you already made the mistakes is to simply ask your attorney what you can do. If he doesn’t give you an answer you like go that same day to another attorney and take their free hour chat to explain this.
I agree with the first post, if you buy a short sale you just never know what the heck is going to come up. In fact its very possible that other problems will soon emerge and not completely clear this sale will go thru at all. You probably didn’t know this so its just a lesson learned.
Regarding your question I don’t think you can sue for this. Its not clear that your house would’ve closed in time anyhow and so you can’t expect to get anything for this.
I think you’ve lost it when you got into short sale territory.
Too many provisions involved.
“Once my lawyer spoke with the bail bondsman’s attorney,” and that’s who you need to address this question to, not the yahoos here. Best wishes!