If I do not close on a loan due to negligence on part of person getting me the loan, do I have a legal claim?

UPDATED: Nov 9, 2011

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If I do not close on a loan due to negligence on part of person getting me the loan, do I have a legal claim?

I was to close on a loan back 7 months ago, however, each time I was to close they wanted something else from me. When I got it for them the would set up new closing then it would be canceled due to something else they wanted.

Asked on November 9, 2011 under Real Estate Law, Minnesota


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Whether or not you have a legal claim based upon the facts that you have written about is best determined by you consulting with a real estate attorney and by bringing all paper work regarding the loan to the meeting.

The issue I see is were you actually damaged due to the failure to get the loan? Meaning were you guaranteed the loan and if so, did you lose the chance to buy the property you are writing about and/or your deposit for its purchase assuming one was placed by you?

Good luck.

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