[FrustratedInArkansas]

We are buying a foreclosed house here in Arkansas that we plan to fix up and rent out. Our bid was accepted and we signed the real estate contract and put down Earnest money on October 3 '08. We are buying the house "as is" and are paying outright (no loan). We are just waiting for the final closing (title). On Oct. 27, we were sent an Amendment for "extension of closing date". The new date is Nov. 17. Question #1 How many Extensions can the seller do legally?
We decided to buy the house in the condition that it is in as of Oct. 3. We know that there are a few repairs to the house that we will have to make. For example-none of the windows are broken or even have a crack as of right now. But the longer that the property stays empty we are concerned about vandels. So in the course of these "extensions" what can we do if -by chance things are damaged in the time we are waiting for the closing? We talked to the agent and all she keeps saying is that we can back out but we will lose our earnest money (i really dont think she is on our side at all). Questions #2 Is there some action that we can take if the property is not in the condition when we go to close as it it was in Oct. 3?
I would be most THANKFUL for any info/advice on this.
THANKS.

[RTTNFAM]

You would probably get better answers to this in the Real estate section.

[alabamapal]

Take pictures ASAP with a photo of that day's newspaper (or other valid proof of date) of the house. Pictures of windows, a/c unit, kitchen cabinets, flooring, appliances (if any) and other items that would interest
theives. Vandals normally knock holes in walls, etc. YOU WILL NOT LOSE YOUR EARNEST MONEY!! if the property is not as it was when your offer became an executed contract.

[LivingInLittleRock]

You should talk to your agent about writing in some ammendments. She should protect you and your earnest money. Depending on the agreed upon terms, you could lose your earnest money if you back out of the contract....so it's time to write in some ammendments. Hope this helps!

[JeffAtkins]

Originally Posted by LivingInLittleRock

You should talk to your agent about writing in some ammendments. She should protect you and your earnest money.

Aren't real estate agents the SELLER's agent unless there is a specific buyer-agent agreement? If so, the agent's responsibility is to the seller, not to the buyer.