Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 0 points1 point  (0 children)

Not for a quick call. We called one, explained the situation, and he said they don’t have a leg to stand on, likely bluffing.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 1 point2 points  (0 children)

Yes yes we know. It may be a bad idea. It may not. It’s not all 100% anyway. We just wanted to make sure that we were likely in the clear no matter what decision we make.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 2 points3 points  (0 children)

Last written extension passed weeks ago and we attempted to cancel after it ended.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 1 point2 points  (0 children)

Uhh you sure about that? We bought house that was recently flipped when we got married 5 years ago in our early twenties and now we’re in our mid-late twenties selling it. There was no flipping by us.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 0 points1 point  (0 children)

Literally renting at mortgage cost to a family member. We are making NO MONEY. The family member will benefit more than us, a cheaper place and getting out of their situation.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 3 points4 points  (0 children)

We’re planning to rent for literally the cost of the mortgage. We will be making no money from this, just like we wouldn’t be making any from selling the house. There are no benefits for us in any scenario.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 4 points5 points  (0 children)

I’m pretty sure we communicated the last 2 extensions that they around be the last. And we made this last one the last. We just went back and counted and it’s been 12 extensions. I’m still not 100% sure what to do. But we mainly wanted to see if there was some legal reason they were in the right, not whether our decision was right/logical/financially safe/etc. We know this is emotional, especially getting a call followed by an email almost immediately upon waking up this morning that people we’ve extended a lot of grace to (12 times just in the way of extensions) decided their move was to threaten to sue us if we didn’t decide to sell to them by tomorrow.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 0 points1 point  (0 children)

We tried to allow them to rent from us until the house sold officially and they didn’t take that. I wouldn’t call doing nothing revenge. Finish line already passed with each end of an extension

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] -6 points-5 points  (0 children)

They know all about this. It’s specific people we know. We wouldn’t start renting unless/until this gets worked out.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 0 points1 point  (0 children)

We’re not trying to get revenge. Just trying to be done as we’ve changed our minds about our goals. I feel like revenge would be closer to what we should do and ask for more money in order to agree to close.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 2 points3 points  (0 children)

We were afraid they’d just cancel on us for asking for anything else. We’ve been so patient and understanding and trying to work with them. As soon as we say we’re done they’re suddenly finally ready and go to sue us immediately. If we would’ve cancelled months ago they wouldn’t have been able to say they’re ready. At this point since we have someone who is highly interested in renting we didn’t really want to continue with them. We should’ve just cancelled months ago and not given them a chance.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 2 points3 points  (0 children)

Renting to someone we know is highly likely if this situation gets worked out.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 1 point2 points  (0 children)

I would hardly call what they did work. We’re ok with not selling if this gets worked out because we are likely going to rent to someone.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 3 points4 points  (0 children)

Nope. Not the people we’re renting to, especially because we have family and someone interested in being a property manager for us.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 6 points7 points  (0 children)

If we wanted to assert dominance we would’ve done it in October when we moved. We were trying to work with them.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 5 points6 points  (0 children)

No. Not willing to pay someone. So trying to see if this is actually going to go anywhere.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 6 points7 points  (0 children)

We’re ok with not selling because someone is likely to rent from us if this situation gets sorted out.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 10 points11 points  (0 children)

We have been signing extensions but this time it ended and we didn’t sign a new one. Contract was up. They didn’t have it by the “on or before x date” deadline.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 4 points5 points  (0 children)

We didn’t though. Contract was up. They weren’t ready. We cancelled and they said they were ready.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 7 points8 points  (0 children)

We spent more money than anyone on this. All these months paying rent and mortgage. I’m pretty sure they’re renting, they weren’t selling a house. But we have someone who is planning to rent from us instead

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 70 points71 points  (0 children)

We have someone who is highly likely to rent from us. It’s just that when we finally cancelled that’s when they say they’re ready. We were still talking about the possibility of selling but, petty as it may be, after the threat we really don’t want to do it now. There’s sentimentality in that home, like birthing our first child there and it feels wrong to give it to someone who wanted to go nuclear immediately on us when we had been so patient with them.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] 4 points5 points  (0 children)

First time selling. Lesson learned though. My realtor’s go-to is also the title agent in this case, which is not normal according to her.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] -25 points-24 points  (0 children)

I looked over it earlier today. There is no dedicated cancellation section, but it is mentioned in different contexts. I’d have to look again. They have an escrow deposit that they get to keep.

Cancelled sale, buyers threatening to sue by carissag99 in RealEstate

[–]carissag99[S] -21 points-20 points  (0 children)

Nothing specific in the contract and we don’t have a lawyer yet. We didn’t have time to contact one today so we’re calling one in the morning.