If I’m trying to purchase a new double wide mobile home, can a lender suggest a raise in the purchase price?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I’m trying to purchase a new double wide mobile home, can a lender suggest a raise in the purchase price?
I’ve signed a purchase contract with the seller for X amount of dollars. That contract was forwarded to the mortgage company, which sent info back to the seller to raise the price 19k, due to pre-approval. Is this legal?
Asked on July 18, 2015 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
It's perfectly legal to make suggestions--anyone can. If the contract was signed, however, it should not matter: once there is a signed written contract, both parties are held or obligated to it: the seller may not raise the price if he's already agreed in a contract to sell for a certain amount. He has to sell it to you for the price the two of you agreed on in the contract. If he won't, you could sue him for breach of contract.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.