More Deals Are Falling Through

Summary


A few months after Suzanne and Robert DeLaurentis signed a contract on a short sale in Midland Park, they received a call from the seller's agent. A pipe in the house had broken, but it wasn't a big deal, just a little water damage, and the homeowner's insurance would pay for a little paint and a new carpet.

The couple's attorney advised them to visit the house right away. "We had a hard time opening the door to get in, it was so warped," recalls Suzanne. "There were no ceilings, no walls, and mold was rampant."

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Extract


More Deals Are Falling Through

They decided to wait and see what the insurance payment would cover. When months went by without a decision from the insurance company, the DeLaurentises tried to get out of the contract and collect their deposit.

"They said we had no right, that we were already under contract," Suzanne relates. "We had to sp...

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