Seller wants out

My husband and I are supposed to close on a home on 2/21/2001 here in Arizona. The seller accepted our original offer without countering & complied with the inspection requests. Two days the seller's agent called both my lender, the title company and my agent to let us know that they wanted out of the contract from us and would do absolutely nothing to help the transaction close. This occurred apparently b/c the agent says FHA buyers are bad buyers who have bad credit and she preferred not to deal with us. Of course if nothing went wrong we'd have no concerns. However, coincidentally the gift check from our in-laws has yet to show up for the closing. With Monday being a holiday we are crossing our fingers that it arrives on Tuesday so we can close Wednesday. The agent says that her seller's will not sign an Amendment giving us an extending the closing day due to the bank holiday as they would like to accept an offer from a nonFHA buyer for a higher sales price. We have put up $1000 in earnest money, paid for the inspection, a termite inspection and the appraisal. If the check doesn't show up they are planning to keep our earnest money for us not performing to the contract. Is there anything I can do, aside from hoping the check comes? It seems unreasonable for the seller to not give us 24 more hours, but they decided after accepting our contract that they could do better. Otherwise a normal seller would surely give the extra day as we have loan approval and everything else is fine.

[HomeGuru]

That gift check should have been in your hands weeks ago. If I was the Seller I would be concerned also. How was the check sent, was it a cashier's check? If not have them wire the funds to escrow. Call your in-laws now and find out exactly where that check is. It may not have even been sent out.

We just wrote the offer on the 2nd and it wsn't accepted and returned until the 5th. Yes, it is a cashier's check, tracking shows it is en route to us right now (via registered mail instead of FedEx or something else quicker). Any other thoughts?

[HomeGuru]

No, and good luck with snail mail.