seller may want out of contract

[upsetbuyer]

What is the name of your state?What is the name of your state? Ohio

My wife and I viewed a home and made an offer through a realtor. The homeowner counter-offered and we accepted. All parties signed a contract. Our mortgage company then did their appraisal. Our inpection was completed by a private inspector. We (through our realtor) put earnest funds into escrow the day after we signed the couter offer. We have a closing date of next Friday, and a possession date a week later, as described in the contract.

Since the offer was accepted, the seller decided that they did not want to buy the home that they were moving to. Now, I have been told that the seller wants to either get out of our contract, or delay the closing date and possession date because they don't have anywhere to move.

We have not received any official documentation stating what the seller wants, if anything. But, we understand that they have legal representation and that we may hear soon what they want.

The condo that we live in is leased. The owner has the property on the market, and I have made an agreement with our landlord to be out of here the day after our closing. So, if our possession date is changed, we will have nowhere to live.

If the sellers want to change the date or cancel the contract...can they? If we say no, and they don't move out in time...or refuse to sign the closing papers (or don't show up for closing)...what can I do about it?

My realtor has gone out of town, and isn't scheduled to be home until the day after our closing date. He is not communicating with me very well. We feel alone and abused.

We don't feel that we should be the ones that have to move twice (or stay in temporary housing), and we feel that because the sale of this home was not contingent on the purchase of the seller's new home...we shouldn't be inconvenienced by their situation.

Further complicating this is that we are so close to Christmas, and we don't want to be moving later (closer to Christmas) in the winter. We need to set up utilities, etc. It's TOO close to closing to be pulling this stuff!

[BelizeBreeze]

Originally Posted by upsetbuyer

What is the name of your state?What is the name of your state? Ohio

My wife and I viewed a home and made an offer through a realtor. The homeowner counter-offered and we accepted. All parties signed a contract. Our mortgage company then did their appraisal. Our inpection was completed by a private inspector. We (through our realtor) put earnest funds into escrow the day after we signed the couter offer. We have a closing date of next Friday, and a possession date a week later, as described in the contract.

Since the offer was accepted, the seller decided that they did not want to buy the home that they were moving to. Now, I have been told that the seller wants to either get out of our contract, or delay the closing date and possession date because they don't have anywhere to move.

We have not received any official documentation stating what the seller wants, if anything. But, we understand that they have legal representation and that we may hear soon what they want.

The condo that we live in is leased. The owner has the property on the market, and I have made an agreement with our landlord to be out of here the day after our closing. So, if our possession date is changed, we will have nowhere to live.

If the sellers want to change the date or cancel the contract...can they? If we say no, and they don't move out in time...or refuse to sign the closing papers (or don't show up for closing)...what can I do about it?

My realtor has gone out of town, and isn't scheduled to be home until the day after our closing date. He is not communicating with me very well. We feel alone and abused.

We don't feel that we should be the ones that have to move twice (or stay in temporary housing), and we feel that because the sale of this home was not contingent on the purchase of the seller's new home...we shouldn't be inconvenienced by their situation.

Further complicating this is that we are so close to Christmas, and we don't want to be moving later (closer to Christmas) in the winter. We need to set up utilities, etc. It's TOO close to closing to be pulling this stuff!

Without reading your purchase agreement there's no way we can comment except to tell you that if there is NOT a dependency clause to the effect of "sale contingent upon seller obtaining new home" or some other such, then they are bound by the contract.

Tell your agent or agent's broker that you want something from the seller by the end of business Monday as to their intentions otherwise, you will be at the closing.

If they do not show, you can file suit for specific performance. Their problems are not yours.

[upsetbuyer]

could you explain the term "specific performance"?

[BelizeBreeze]

Originally Posted by upsetbuyer

could you explain the term "specific performance"?

Perform the contract.

[upsetbuyer]

The counter offer to our original offer was faxed to me 2.5 hours before it was due back to the seller. I signed it, but had to bring it home for my wife to sign it. My realtor told me to cross off the hand-written deadline and initial a change making the dealine the next day at noon (24 hours later). Their realtor told me that the sellers approved this change either verbally or in writing (I don't know which).

If the sellers say that they never approved this change, can they get out of the contract? My feeling is that they showed intention to abide by the contract due to the fact that they let my mortgage company appraise the property, they let my private inspector inspect the property, and they spent a couple of hours with my wife and I talking about the purchase. They were perfectly happy selling the place until the deal on THEIR new house fell through.

I feel that regardless of whether they approved the date change, their "agent" DID, and that if they we not in agreement, they should not have allowed us access for inspection and appraisal. I think that the only reason that they want out of the contract - or feel that they have leverage to make us change possession dates - is that their other deal went bad. I feel that their other deal is not my concern, and I shouldn't have to suffer because of it.

I guess my question is: If their realtor is lying to us, and they never actually approved the change in dates on the counter offer....is the contract still valid? Can their agent ACTUALLY act on their behalf?

[BelizeBreeze]

Originally Posted by upsetbuyer

The counter offer to our original offer was faxed to me 2.5 hours before it was due back to the seller. I signed it, but had to bring it home for my wife to sign it. My realtor told me to cross off the hand-written deadline and initial a change making the dealine the next day at noon (24 hours later). Their realtor told me that the sellers approved this change either verbally or in writing (I don't know which).

If the sellers say that they never approved this change, can they get out of the contract? My feeling is that they showed intention to abide by the contract due to the fact that they let my mortgage company appraise the property, they let my private inspector inspect the property, and they spent a couple of hours with my wife and I talking about the purchase. They were perfectly happy selling the place until the deal on THEIR new house fell through.

I feel that regardless of whether they approved the date change, their "agent" DID, and that if they we not in agreement, they should not have allowed us access for inspection and appraisal. I think that the only reason that they want out of the contract - or feel that they have leverage to make us change possession dates - is that their other deal went bad. I feel that their other deal is not my concern, and I shouldn't have to suffer because of it.

I guess my question is: If their realtor is lying to us, and they never actually approved the change in dates on the counter offer....is the contract still valid? Can their agent ACTUALLY act on their behalf?

Do you or do you NOT have a signed contract? We don't know if you do or not?

[upsetbuyer]

We have a signed contract.

[BelizeBreeze]

Originally Posted by upsetbuyer

We have a signed contract.

Then take the contract to a real estate attorney and get a consultation.

IF you have a valid signed contract you have the options given to you here.

[HomeGuru]

Originally Posted by BelizeBreeze

Then take the contract to a real estate attorney and get a consultation.

IF you have a valid signed contract you have the options given to you here.

**A: and consider firing your Realtor or deducting some $$$$$. Ask the PB top handle things now and go to closing with you.