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  #1  
Old 03-26-2006, 01:46 AM
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Join Date: Mar 2006
Posts: 3
Question

Seller refusing full price offer


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?
  #2  
Old 03-26-2006, 07:27 AM
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Join Date: Aug 2005
Posts: 1,964
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.
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