House Purchase - Posted by NoName

Posted by Natalie-VA on April 23, 2006 at 10:04:55:

You need to get your own lawyer ASAP.


House Purchase - Posted by NoName

Posted by NoName on April 18, 2006 at 15:00:05:

Hi,I purchased a home with a friend where i am not on the mortgage (although my income was combined with friends to ensure we get the mortgage) but on the contract papers. The lawyer never discussed how we would own the propert (%age ownership) or any ways of legally protecting both of us. We are about to go to closing in about a week. I had put down 26k towards the dp and my friend put the same amt down. I no longer wish to continue with the purchase and go through with the closing. I was going to get an attorney to get me out of it but my friend insists that i dont need one and that they will give me my money back. I almost want to put all my trust in them but am not sure that’s the right thing to do. ANyway, i dont want to go to the closing or move any further into this. If i call the attny and tell them i no longer wish to continue on my part but that my friend wants to, can my friend continue with the purchase w/o my presence? Also, would i lose my money b/c i took no action on my part? Any suggestion would be greatly appreciated as this is urgent. I don’t know what to do at this point.