Can I buy a house with an award from a lawsuit?
August 26th, 2008 By Peter G. Miller
Sure — if the money is there. But, until the matter is finally resolved, appeals run out, and a check is cashed, how does anyone know there will be money available for a realty purchase?
What if someone contracts to buy a home today with $20,000 in cash due at closing in 60 days — money to be generated from the settlement of a suit. And what happens if the suit is delayed? Money at closing is still required and if the buyer does not close there could be substantial damages — and maybe another suit….
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