Thread: ugh

I get to go home and tell my wife that the buyers for our house just walked away from the deal 10 days before closing. We were suppose to close on a new house too. I am not looking forward to telling my wife.

Our realtor told me this only the second time this has happened to him in ten years.

Dude, that sucks. Sorry to hear it Dennis

Realtors are sketchy liars. FYI.

Did the buyers provide you with an unrecoverable deposit?

That's a bummer.

Well shit. Do you get to keep earnest money?

Well shit man. I'm sure you know tho, the market is hot.....I bet you'll get another offer real soon.

What clause did they use to back out?

Originally Posted by Al Wilson 4 Mayor

I get to go home and tell my wife that the buyers for our house just walked away from the deal 10 days before closing. We were suppose to close on a new house too. I am not looking forward to telling my wife.

Our realtor told me this only the second time this has happened to him in ten years.

Free earnest money! (?)

That's jacked up man! I hate people that don't keep their word....

Originally Posted by WTE

Did the buyers provide you with an unrecoverable deposit?

Originally Posted by tubby

Well shit. Do you get to keep earnest money?

Originally Posted by Hawgdriver

Free earnest money! (?)

Yes, we get to keep the earnest money $1500.00, but we have spent $925 in inspection and appraisal fees on the house we wanted to buy. Additionally, I might have to part with the earnest money on the house we were going to buy, to the tune of $1500, so altogether this might have cost us $925.

Originally Posted by GEM

What clause did they use to back out?

They have no clause to fall back on. They're just assuming I won't sue them. We had already agreed on all of the changes to the original contract. We were only ten days from closing.

That blows.

Originally Posted by Al Wilson 4 Mayor

Yes, we get to keep the earnest money $1500.00, but we have spent $925 in inspection and appraisal fees on the house we wanted to buy. Additionally, I might have to part with the earnest money on the house we were going to buy, to the tune of $1500, so altogether this might have cost us $925.



They have no clause to fall back on. They're just assuming I won't sue them. We had already agreed on all of the changes to the original contract. We were only ten days from closing.

Did you have a contingency on the house you were going to buy that it is contingent on you selling your existing house? Wouldn't that be cause to getting your deposit back?

Originally Posted by WTE

Did you have a contingency on the house you were going to buy that it is contingent on you selling your existing house? Wouldn't that be cause to getting your deposit back?

Yes and no

If you really like the new house, you could consider a bridge loan until your current house sells. If you're into gambling...

I don't remember - are you in Colorado? If so, the market is much better now, but you're still looking at new timeframes with a new contract, etc. The new buyer will still want to do an inspection etal.