My wife and I accepted an offer on our home in Texas 11 days ago.
The 10 day option period expired yesterday at 5:00 pm. At 4:30 pm yesterday, our agent called and said the buyers wanted $8000 plus our washer, dryer, and refrigerator. We didn’t receive a copy of the inspection report until 4:50 pm, and it mostly listed minor things (door dragging on carpet, drain pans in attic need to be cleaned, broken seal on window, etc…).
We countered their offer at $1000 with no appliances, 30 minutes after their option period was over. I thought the $1000 would more than cover the costs of the repairs, and I was making more of a good faith gesture more than anything.
The buyers countered back with $4000 at 9:30 pm and I told them $1000 was my only offer. They accepted the $1000 offer and said they would send paperwork over in the morning, and our agent gave her word that we would sign it.
This morning rolled around, and no word from the buyers. They called late this afternoon and said their financing fell through, so they will be terminating the contract without forfeiting the earnest money ($7500).
This timing seems awfully fishy to me.
We were under contract with the TREC One to Four Family Residential Contract (Resale). What proof do they need to provide that their financing fell through? My agent has a letter from their lender saying they were pre-approved for the full purchase price.
Submitted December 17, 2016 at 07:31AM by Sqboink http://ift.tt/2hEHqvN legaladvice
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