Tuesday, September 21, 2010

Can a Title Company be responsible for a Real estate deal to go bad?

I was offered a contract for my beach house recently and took it. In the contract it stated that we would close August 28 and if there was a problem with the title an additional 30 days would be added. Subsequently the title company the buyer was using took more then 30 days and now the buyer wants to cancel the deal. It was going to be all Cash deal, 700K. I have a feeling the buyer did not want to buy the condo and had the title company delayed so that the contract would be void. What can I do to keep the deal alive? Is there anything I can do legally?