 Posted 10/15/2007 7:47:39 PM
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| Our fsbo has been under contract for almost 6 weeks and the buyer wants out. They won't say that, they just keep introducing new issues. Last week, when I thought we were close to an agreement, their attorney wrote a letter stating we did not have good title to the property. Not true, and after a series of letters from our attorney and the broker we bought the house from 6 months ago, that issue has been put to bed, but it bought them a few days. Now they want the house re-wired (not an issue in the inspection report) and four interior doors re-hung because they do not latch shut. It's a 1925 house and I live in the South, when it's humid teh doors swing open a bit and when it's cooler they close. I feel that they are not operating in good faith and have no intention of buying this house. They just don't want to give up their earnest money. Do we have to agree to fix everything in the inspection report in order to get our earnest money back?
AMonty
AMonty
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Posted 10/15/2007 7:51:16 PM
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I just re-read my post. I meant in order for us to keep the earnest money, not get it back. Sorry.
AMonty
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Posted 10/17/2007 11:53:14 AM
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Hello AMonty-
Sounds like you are in a tricky situation indeed.
The particulars of your purchase contract would dictate the repairs that need to be made. However, if specifics were not spelled out it may be rather difficult to come to an agreement.
I would suggest sitting down with your lawyer to find out if the law in your state has any stipulations for this type of situation, and also just get his/her advice as they've already had to deal with the buyer.
-FSBO Guru
Owners.com
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Posted 10/18/2007 4:24:51 PM
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Hi, I have been doing purchases for many years and if a buyer wants out eventually he will get it for one reason or another. Not worth your time and effort. Move on and find another buyer. Best wishes, Ed
I am a California based real estate consultant but have lived 20 years in Spain and can help you with any real estate transaction there. They do not use escrow but rather "notarios".
Soy un consultor de bienes raices en California, USA y puedo ayudarle con cualquier tipo de transaction comercial.
Mi tel es: 1 (818) 415-5633
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Posted 10/30/2007 7:28:34 AM
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| I had the same trouble recently. In the end we agreed to some but not all of the repairs and the buyer terminated the purchase agreement. I say good riddance. Our house is newly remodeled and was priced very fairly. As far as I'm concerned it was their loss completely. You can't force someone to buy your home, but I will say I do think its unfair that buyers can back out and get their earnest money back just by demanding excessive repairs. Unless the home inspector finds that your house is a safety hazard the buyers should have to either honor the agreement or forfeit their earnest money.
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Posted 12/28/2007 1:17:52 PM
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Is someone wants to get out of a deal, it can be a futile exercise to try and keep it together. You just want to bag it and look for a new buyer.
DebtFreeDave
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