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Related: Culture Forums, Support ForumsBuyers pulled out of contract to buy our house...
Has anyone had this happen?
We put our house on the market. Two co-buyers offered for it and we accepted. They put down their earnest money.
We found a house we loved. Put an offer in. It was accepted.
Closing dates coincided. We were nervous about it, but not overly so.
A few days ago we were told the buyers pulled out without explanation. Their agent will not return our agent's calls. We get their earnest money. Yay
Now, that this house is without a contract, we might lose the house we want. It was contingent on our house selling.
We've been told we can sue them over this.
What hair I haven't lost is going grey.
Anyone have advice to offer?
roody
(10,849 posts)elleng
(130,156 posts)You had 2 offers, you will have more.
cynatnite
(31,011 posts)Sorry that wasn't clear.
We're hoping for another very soon.
Thanks!
elleng
(130,156 posts)and maybe let the sellers of the house you want know what's happened, you're pursuing other buyers quickly, so hope to close the deal for your next home.
dixiegrrrrl
(60,010 posts)Too bad the buyers who backed did not.
If you feel you have suffered damages...the cost of not getting the house you want to buy.....and the extra cost of having to put yours back on the market, you might consider suing.
I am surprised, but not as much as I should be, that their agent is ignoring your agent.
Something tells me their agent might be violating the legal obligations of his/her real estate license.
jmowreader
(50,453 posts)Find out if you can sue for "specific performance" - which means the counterparty would be required to buy your house. This of course only works if the house you want hasn't been sold yet - you don't want to specific-performance yourself into a van down by the river.
Skittles
(152,966 posts)GET TO IT!!!
femmocrat
(28,394 posts)You will find another buyer and with luck, the house you want will still be available.
It's all a crapshoot, unfortunately. Good luck to you.
mnhtnbb
(31,319 posts)to fund the purchase of the house you are buying, ask your agent to recommend a mortgage
broker in your area that specializes in bridge loans so you can go ahead with the purchase.
Get your house back on the market, pronto.
Chalk it up to experience. Good luck!
Major Nikon
(36,814 posts)Tell your agent that if the house sells within ____ number of days the agent and the buyer can split the earnest money check.
Cash is an excellent motivator.
hamsterjill
(15,214 posts)And do not think that realtors are lawyers because they are not.
Is there a feasibility time period in your contract? Did the buyers have the right to have the house inspected, etc.? Did they find something that should have been disclosed that was, perhaps, not disclosed?
Is there a provision in the contract relating to the buyers being able to qualify for the mortgage to buy your home? Any outs for them here in case they couldn't qualify? (Even if they came prepared with a letter indicating they were pre-qualified, a mortgage company still will re-qualify applicants at the time of an actual contract). Perhaps one lost a job?
Many, many questions to have answered before you decide to sue. Will be much easier if your realtor gets busy and finds another buyer for you.
Best of luck.
mackerel
(4,412 posts)I put it back on the market and I got another offer the next week.
My realtor called it buyers remorse.
Fla Dem
(23,352 posts)They find another house, something in the inspection report spooked them, could be anything. Suing them is stressful and expensive and you probably won't win. As others have said, get it back on the market asap. Good Luck!