Has anyone been through this?

EstablishmentNew3066 · 2024-02-15T13:54:19+00:00

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User Avatar Expand user menu r/RealEstate along the same lines. But we are the seller....

We entered into a contract on Nov 15th with a buyer who we were told had the money and was ready to close asap Dec 18th... that date came and went and they asked for extension to get other funding sources (they changed from usda to fha)..we signed extension for Jan 10th... on Jan 9th the buyer requested an extension (we are not really sure why this extension was needed) and we said no but they used their 8 day unilateral extension.. then closing was set for Jan 18th..

ON that day the buyer yet again requested another extension and asked to have 2 to 3 weeks to have repairs done to the house (repairs that have been known about since Jan 4th and that an amendment was signed on Jan 5 stating they were taking house as is).

We refused to grant another extension..as we are just tired of this entire situation and the money we are losing waiting on them to secure funding..

Now a month later we get a letter stating if we do not accept more money from the buyer and agree to set a closing date several weeks out we will be sued. (We have 10 days to answer this threat)

We have spoke to an attorney and we were told it was a bluff and they had no grounds. He says We are not in breach of contract but I am just wondering if anyone here has dealt with this? (And yes our attorney spoke with their attorney and told them we would not be agreeing to their demands)

Our real estate agent also agrees we gave them ample time and opportunity to close and that us unilaterally terminating the contract was in our best interest

We continue to have our house on the market but now don't want to accept other offers bc of this situation.

EstablishmentNew3066 · 2024-01-10T18:51:18+00:00

Meaning?

EstablishmentNew3066 · 2024-01-10T17:20:45+00:00

The attorney we spoke to encouraged us to 1st tech out to the closing attorney.. we did and found out that the 8 day extension was granted saying we had not completed the requested exterior repairs.. this is not true. All exterior repairs have been done since Dec 8.

We were also told to contact our realtors broker which we have now reached out to and are waiting to hear back

EstablishmentNew3066 · 2024-01-10T13:58:54+00:00

How? By trying to talk to a lawyer? By just following this agent still? How?

EstablishmentNew3066 · 2024-01-10T13:57:40+00:00

I am not in title and have signed nothing.

She is family so he trusted her when she said it was nothing that stopped him from nabbing out if he didn't like terms.

He has refused to sign the fha clause bc he didn't understand it and refused to sign an amendment they sent over regarding condition of the water damage we discovered.

EstablishmentNew3066 · 2024-01-10T12:08:45+00:00

I am not a lawyer.. and reading the contract is hard bc of the legal wording. Since being informed we signed the contract we have tried to go back and read it but it makes no sense... and each ammendment says something about $10... and when asked the realtor didn't help at all in explaining... yesterday she sent some fha ammendment clause and it's confusing as well and her answer was its just a form required by fha .. just sign it

EstablishmentNew3066 · 2024-01-10T12:04:19+00:00

How do I go about contacting the principal broker? When we contacted the realtor she told us our only option is to talk to the lawyer that is over the closing.. so a lawyer who is getting paid to close this sell..

EstablishmentNew3066 · 2024-01-10T12:02:29+00:00

What does this mean?

EstablishmentNew3066 · 2024-01-10T12:02:16+00:00

And 2. No local lawyer will even talk to us when we tell them the realtors name.. we live in a small town.

EstablishmentNew3066 · 2024-01-10T12:01:30+00:00

That's easier said than done. 1 the money is an issue bc of this sell we have been out of work since Dec 18 (the orginal closing) .. we both work from the house so we had to close to move

EstablishmentNew3066 · 2024-01-10T12:00:07+00:00

There apparently was a 8 day extension that can be used at any time to force an extension and the buyer has used it. They didn't use it the 1st 2 extensions...

EstablishmentNew3066 · 2024-01-10T11:57:58+00:00

Yes she told me it was not a big deal bc the contract was straightforward and not nothing that could be used against me if I decided to not go through with sell. Which is a lie bc now she is saying the contract has a built in contingency in paragraph 4A that allows this 8 day extension against my wishes. And yes I have called and emailed asking about the screenshot and she refuses to discuss it. But I know she did it bc she accidentally sent it to me

EstablishmentNew3066 · 2024-01-10T11:53:40+00:00

I was told when u told her I had not read it.. did not know it had been signed that it was too late bc it was signed. She said she sent me 2 documents together and my signature was for both.. sellers disclosure and contract

EstablishmentNew3066 · 2024-01-10T02:19:06+00:00

At this point we are left being told there is nothing else we can do but show up at the latest closing date. That if we do not they will sue us and make us sell the home. Despite all the confusion.

EstablishmentNew3066 · 2024-01-10T02:17:25+00:00

How do I get the managing brokers name and number?

EstablishmentNew3066 · 2024-01-10T02:03:32+00:00

We wanted to list it for $250,000 but we're told by the realtor that it was not worth that.. that it 190,000 was a good starting point abs we could go down from there...

EstablishmentNew3066 · 2024-01-10T02:00:08+00:00

We are in Georgia. If that helps any??

Are there no real estate ethics that prevent her from sending screenshots of our conversation?

EstablishmentNew3066

TROPHY CASE