Seller Not Returning Deposit Money
Hello everyone. My husband and I are in the middle of purchasing a house. When we did a title search we discovered that the garage and driveway are encroaching on the neighbor’s property by more than 3ft. As a result, our title company will not insure the encroaching areas outside the boundary lines and our bank said they would be unable to fund our loan due to not having affirmative insurance. We were approved for the loan initially. We set a time of the essence closing which is in in 2 days to show we are acting in good faith and the seller’s attorney refuses to acknowledge the encroachment as they believe it’s their land due to adverse possession. They are accusing us of being breach of contract and waiving our rights due to setting a closing date which my attorney has repeatedly rejected that we did not waive our rights. They don’t want to give our deposit money back which is more than 50k. What can we do and what is the success of suing them for the money AS WELL AS lawyer fees and damages? I want a solution which will force and compel them to give us our money back before wasting any more time and money. We just want our money back and have no interest in buying the house with an issue like this. Location: Nassau county, NY.
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