Lost property purchase due to owner occupancy clause yet buyer is flipping. Do we have recourse? Posted on March 02, 2011
We placed an offer on property in Florida, however it was a bank owned property with the requirement that only owner occupants could place bids within first 15 days. Offer was accepted within 2 days of listing and property was sold on approximately January 27, 2011. It was just re-listed on the MLS 3-1-11 for 60,000.00 more than what it sold for. Since the property was obviously purchased by an investor not an owner occupant do we have an legal recourse against the bank, realtor, and/or individuals who purchased the property. As per pictures the property is EMPTY, not owner occupied.
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