Buyer put offer in $100 over asking price. Buyer signed Contract of Sale & put in clause stating that Seller would immediately take house off market. Buyer approved for mortgage. Week and a half before settlement, buyer informed seller that comps came in $5,000 less than offered price. Comps were done on street where house is located only. Offered to split difference, but also requested a two week extension & offered to rent house back for the 2 weeks. Buyer verbally agreed. Addendum prepared, the Buyer then said they didn't want to sign and they wanted house for $160,000 (would not split difference), and demanded original settlement date of Jan 30. Seller then said okay to $160,000 but requested two week extension. Buyer verbally agreed to $160,000 and two week extension. New contracts drawn up to reflect $160,000 and Feb 15 settlement date. Buyer signed and initialled second set of contracts, however neglected to sign first page nullifying and voiding first contract. Seller signed. Can't get ahold of Buyer to sign first page. According to first contract Settlement is tomorrow. Does Seller have any recorse?
01-29-2002, 11:33 AM
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