Shocking Eviction Scandal Exposed! How I Helped First-Time Buyers Protect Their Depo

📜 Real Estate Deal Gone Wrong: A Cautionary Tale 🏠💔

Transaction Background: Young family buying their rented home directly from the landlord.

Deposit Dilemma: Unlike typical transactions, deposit was handed directly to the vendor, not held in trust by the vendor’s lawyer.

Bank’s Concerns: Bank uneasy with the private arrangement and deposit handling in the Agreement of Purchase and Sale (APS).

Legal Challenges: Issues arose just days before closing; the landlord attempted eviction despite ongoing sale.

Anticipatory Breach: Situation escalated to an anticipatory breach, with expectations for an immediate deposit return.

Litigation Direction: Ultimately, had to refer the family to a litigation lawyer due to the complex issues and the vendor’s control over the deposit.

🚩 Real Estate Tip: Always ensure deposits are securely held in trust. Consult with a real estate lawyer to avoid potential legal pitfalls.

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