Help! Signed Contract to Purchase House….now saying it can’t be done without approval from the state????
My husband and I found a house. They were asking $19,900, we offered $13,500 (cash) and they accepted. We are suppose to close 12/03/2009, and just received a call from our agent. She said the sellers agent called and said the state says that the selling price is too low for medicaid reasons. She said because he went to a nursing home they stepped in and it cannot be sold until they approve the amount and they will go by the past appraisal amount on taxes.
Can they do this?
In general under the fact pattern you described yes the state has a vested interest in the property;
The state may recoup the monies they outlaid when the person, who was the owner of the home, went into a nursing home and the state through Medicaid paid the bills, therefore they have the right to recapture those monies from any assets the person may have had titled into their name 3/5 years before entering into the nursing home
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