We had an offer on our home in Tennessee for 182,950 and up to 5,000 of the buyer's closing costs. We signed a contract. Our agent brought this offer as a facilitator for both parties (duel agent). The appraisal from the buyer's bank came back at 175,000. The buyers are no verbally asking to purchase the home at the 160,000's. They are going for a 100%VA loan with a $495 closing.
We are schedule to close on a home in North Carolina next week at the owners are moving out this weekend. Everything is contingent on the sale of our home in Tennesse. We need to let them know something in all fairness.
Do you have any legal ground with the first signed contract at 182,950 and up to 5,000 of closing costs? The house has been off the market for 3 1/2 weeks.
Help!
Rob & Kat
| 
07-18-2001, 08:59 PM
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