approaching closing

Florida
I am from England, living in Atlanta and buying in florida. I found a home thru an agent in florida, I made an offer for the house, sellers counteroffered, agent wrote the contract, set closing date approximately 3 weeks hence, paid 1000 earnest money. Although I was pre approved I still had difficulty with financing. I told this to agent immediately and said 3 weeks may not be enough time, can we ammend closing date. I was told that if I put down additional earnest money that she would approach seller with this, I paid additional 2K. Process proceeded I put down additional funds. As we approached the closing date I asked several times if date could be ammended, she said she would discuss with sellers. I was finally approved for mortgage 10 days before closing. Lender said closing would take longer than 10 days. Agent did not tell seller until w/e before closing and then asked for additional 2K non refundable, because the sellers were upset. I paid additional funds. 5 days before closing lender says having a problem getting approval for my insurance, this may take an additional 10 days per lender. Agent says sellers are upset and want to keep 2K for themselves and add a kickout clause to the contract if they ammend the closing date. I feel this is too much. Is this standard?

[HomeGuru]

Originally posted by C Harland
Florida
I am from England, living in Atlanta and buying in florida. I found a home thru an agent in florida, I made an offer for the house, sellers counteroffered, agent wrote the contract, set closing date approximately 3 weeks hence, paid 1000 earnest money. Although I was pre approved I still had difficulty with financing. I told this to agent immediately and said 3 weeks may not be enough time, can we ammend closing date. I was told that if I put down additional earnest money that she would approach seller with this, I paid additional 2K. Process proceeded I put down additional funds. As we approached the closing date I asked several times if date could be ammended, she said she would discuss with sellers. I was finally approved for mortgage 10 days before closing. Lender said closing would take longer than 10 days. Agent did not tell seller until w/e before closing and then asked for additional 2K non refundable, because the sellers were upset. I paid additional funds. 5 days before closing lender says having a problem getting approval for my insurance, this may take an additional 10 days per lender. Agent says sellers are upset and want to keep 2K for themselves and add a kickout clause to the contract if they ammend the closing date. I feel this is too much. Is this standard?

**A: yes and no.

So, what happens if i do not release the 2k to the seller for thier personal use. Does that kill the contract?

[JETX]

With all due respect, you have far too many 'side deals' in this transaction for anyone here to be able to devine what might happen if**************

Some questions that will affect our possible answers are:
Are any of these 'deals' in writing??
What, if anything, do any of these 'deals' say about contingencies or breach??

I would suggest you consider talking with an experienced real estate attorney (or at least a buyers agent) to see what rights you do have.... and don't have.

BTW, if you are not aware already, here in the 'colonies', unless you have your own buyers agent, you are using THEIR agent in this transaction. As such, THEIR agent does NOT represent you or your interests..... so take their 'advice' as potentially VERY biased.