What prevented the closing on a property?

[ClicketyKat]

What could prevent you from closing on a property you wish to purchase?

We had issues at one point when we bought this house, but it was quickly rectified. It had to do with our propane tank and ownership. The previous owner made the claim that it was his, but he had no paperwork. We believed him and said it was okay to move forward with the sale, but then a year later found out that he lied and the propane company still owned the tank.

 

[Grant]

What could prevent you from closing on a property you wish to purchase?

We had issues at one point when we bought this house, but it was quickly rectified. It had to do with our propane tank and ownership. The previous owner made the claim that it was his, but he had no paperwork. We believed him and said it was okay to move forward with the sale, but then a year later found out that he lied and the propane company still owned the tank.

A propane tang stopped you? How big was it? As for if anything like this happened to me, it has not, but I have friends who've tried to sell houses and some of them are flippers. I know a friend who was going to purchase this house, but later decided against it after they went through the house looking for damage. The house was beyond repair and they figured they weren't going to get the pay they wanted for it, so decided not to pursue the property.

 

[ClicketyKat]

A propane tang stopped you? How big was it? As for if anything like this happened to me, it has not, but I have friends who've tried to sell houses and some of them are flippers. I know a friend who was going to purchase this house, but later decided against it after they went through the house looking for damage. The house was beyond repair and they figured they weren't going to get the pay they wanted for it, so decided not to pursue the property.

The deal didn't fully stop because we agreed not to pursue anything. But the seller downright lied in the contract and in hindsight, we should have just stopped the deal or sued him later. I don't know which. It was frustrating and made us look like nut jobs with the propane company.