Seller refusing full price offer

[mlange2000]

What is the name of your state? Georgia
I made an offer of full price plus closing costs on a house that was mls listed. The owner is a corporation whose realtor sent me an unreasonable contract (24 pages) with a 15 day requirement for obtaining the loan. I have preapproval from a major national bank that requires at least 20 days to complete its loan process. I already paid $1000 earnest money and asked for an extension on closing. They granted an extension, but they said I still had to have the loan agreement by the date on the original contract which is now only 3 business days away. I have found someone who will lend me the full amount until the loan goes through. If I comply with their absurd request for another $4000 earnest money and present them with a certified check for the full price to be held by a neutral party, aren't they required by law to sell the house to me?

[pojo2]

Duplicate post!

Just another case of sign a legally binding contract and hope for the best if things do not go right.

YOU signed the unreasonable contract. They just do not want to be tied up for months and you still not be able to close.

You have a contract, that contract has contingencies YOU agreed to when you signed it so if you do not comply they are not LEGALLY obligated to sell you anything

[mlange2000]

Perhaps I didn't state the circumstances clearly. I am attempting to comply with their contract which I have not yet signed because they have just changed the conditions. They are willing to postpone the Closing date to April 24th, but insist that I have an approved loan by March 29th which is just 2 days from now. In order to satisfy their conditions, I will given their realtor an additional $4,000 Earnest money tomorrow (Monday). On Wednesday the 29th, I will give them a Cashier's check for the remainder of the asking price of the house to be held until Closing. I told the realtor I would Close earlier if they wished -- as soon as the Bank Loan is cleared. I am trying to be cooperative.

My question is: If I have done all those things, can they refuse to sell me the house or are they legally obligated to sell it since they have advertised it at that price and I am willing and have proven that I am able to pay the full price plus the Closing costs within their time frame???

[pojo2]

Originally Posted by mlange2000

My question is: If I have done all those things, can they refuse to sell me the house or are they legally obligated to sell it since they have advertised it at that price and I am willing and have proven that I am able to pay the full price plus the Closing costs within their time frame???

Advertising means nothing, the contract you now have on the table is the only one that is valid until you sign the new contract and that one states you have until the 29th to show ability to meet the contract stipulations.

If you sign the new contract it still seems you are obligated to prove you can get financing by the 29th regardless of what else you do.

Seems your Agent could work a bit harder and call your lender and get some kind of committment in a 20 day period even though it takes longer to close the loan.

Look, has this house increased in value during these negotiations? If so then they are likely to hold you to the date knowing you might not be able to meet it and voila they can sell it for a higher price.

You keep saying can they legally this and that and legally you have a contract on the table and that is what governs this situation, nothing more or less until you sign the new contracts.