Can they force me to close??

[navymomkym]

My husband and I were having a house built for us. We signed a purchase agreement and were going to sell our current home on a guarantee buy program so we would not have a problem with selling this home. We had recieved pre approval on a mortgage. However since signing we have had some personal problems come up and also now have learned my husband's employer has lost some major contracts and there is talk of hour cuts in the future. When I contacted our builder they said they still expect us to go thru with the purchase. Both our realtor who would sell our current house and the mortgage company said they are fine with us backing out. Our realtor on the current home says they cannot force us to close on the new home, especially if we are fearful of my husbands job. We fully expected to lose our earnest deposit but did not expect to be forced to go thru with the deal with the problems we are having. We signed the purchase agreement 6 weeks ago and it is approximately 4 months til the new house will be completed. Can they force us to close on that house? Thank you so much. Kym

[HomeGuru]

Originally Posted by navymomkym

My husband and I were having a house built for us. We signed a purchase agreement and were going to sell our current home on a guarantee buy program so we would not have a problem with selling this home. We had recieved pre approval on a mortgage. However since signing we have had some personal problems come up and also now have learned my husband's employer has lost some major contracts and there is talk of hour cuts in the future. When I contacted our builder they said they still expect us to go thru with the purchase. Both our realtor who would sell our current house and the mortgage company said they are fine with us backing out. Our realtor on the current home says they cannot force us to close on the new home, especially if we are fearful of my husbands job. We fully expected to lose our earnest deposit but did not expect to be forced to go thru with the deal with the problems we are having. We signed the purchase agreement 6 weeks ago and it is approximately 4 months til the new house will be completed. Can they force us to close on that house? Thank you so much. Kym

**A: your Realtor is an idiot and practicing law without a license. Read your contract and then take it to a real attorney for review.

[seniorjudge]

Originally Posted by HomeGuru

**A: your Realtor is an idiot and practicing law without a license. Read your contract and then take it to a real attorney for review.

AND do this yesterday.

[HomeGuru]

Originally Posted by seniorjudge

AND do this yesterday.

**A: no 6 weeks ago.

[navymomkym]

I appreciate the help but I don't need the sarcasm, I feel stupid enough as is with the whole deal and cannot help the personal problems that have cropped up. Worrying your mom may have alzheimers and losing a job is pretty stressful; I realize I should not have gotten into a purchase agreement without full intent of completing the deal but I could not forsee what the 6 weeks were going to hold for me. I am new at this place and feel completely stupid.

[Litigation!]

[quote=navymomkym]


Worrying your mom may have alzheimers and losing a job is pretty stressful;

MY RESPONSE: Well, you can blame your Presidummy Bush for both of these. Hell, you voted for that turkey!!




I am new at this place and feel completely stupid.

MY RESPONSE: You can blame Bush for your feelings.


IAAL

[Ohiogal]

[quote=Litigation!]

Originally Posted by navymomkym

Worrying your mom may have alzheimers and losing a job is pretty stressful;

MY RESPONSE: Well, you can blame your Presidummy Bush for both of these. Hell, you voted for that turkey!!




I am new at this place and feel completely stupid.

MY RESPONSE: You can blame Bush for your feelings.


IAAL

Now now. Didn't you watch the State of the Union? Apparently the country is in perfect fabulous shape and there are no problems here! Come on IAAL. You are being so unfair because the only problems the country has are caused by a democratic conspiracy to make Bush look bad.

[seniorjudge]

Originally Posted by navymomkym

I appreciate the help but I don't need the sarcasm, I feel stupid enough as is with the whole deal and cannot help the personal problems that have cropped up. Worrying your mom may have alzheimers and losing a job is pretty stressful; I realize I should not have gotten into a purchase agreement without full intent of completing the deal but I could not forsee what the 6 weeks were going to hold for me. I am new at this place and feel completely stupid.

No sarcasm here...just an urgent call to you to protect yourself.

Originally Posted by navymomkym

My husband and I were having a house built for us. We signed a purchase agreement and were going to sell our current home on a guarantee buy program so we would not have a problem with selling this home. We had recieved pre approval on a mortgage. However since signing we have had some personal problems come up and also now have learned my husband's employer has lost some major contracts and there is talk of hour cuts in the future. When I contacted our builder they said they still expect us to go thru with the purchase. Both our realtor who would sell our current house and the mortgage company said they are fine with us backing out. Our realtor on the current home says they cannot force us to close on the new home, especially if we are fearful of my husbands job. We fully expected to lose our earnest deposit but did not expect to be forced to go thru with the deal with the problems we are having. We signed the purchase agreement 6 weeks ago and it is approximately 4 months til the new house will be completed. Can they force us to close on that house? Thank you so much. Kym

Like HomeGuru stated: read your contract.

It sounds like you are trying to get out of this deal based on "what If's".

I doubt that your contract will state that you can terminate the deal based on personal problems (stress) and possible (not definate) financial problems in the future.

[HomeGuru]

that makes sense**************