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Old 05-29-2011, 12:20 AM
 
Location: Heart of Dixie
140 posts, read 226,818 times
Reputation: 138

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The contract you signed isn't a sales contract but a purchase agreement. You still own the home until you sign over all documentation at closing. You need to talk to a real estate attorney now! Forget your broker. He/she stands to lose money if you don't sell, so they aren't going to help you.

VA Law If Seller fails to comply with this contract for any other reason, Seller will be in default and Purchaser may (a) enforce specific performance, seek such other relief as may be provided by law, or both, or (b) terminate this contract and receive the earnest money, thereby releasing both parties from this contract.


So legally, all they can do is get their earnest money back plus anything they feel you owe them for inconveiniencing them, which they would have to take you to court to get.

 
Old 05-29-2011, 02:43 AM
 
2,670 posts, read 4,519,607 times
Reputation: 2117
Default ???

Quote:
Originally Posted by Ben 'n Jen View Post
The contract you signed isn't a sales contract but a purchase agreement. You still own the home until you sign over all documentation at closing. You need to talk to a real estate attorney now! Forget your broker. He/she stands to lose money if you don't sell, so they aren't going to help you.

VA Law If Seller fails to comply with this contract for any other reason, Seller will be in default and Purchaser may (a) enforce specific performance, seek such other relief as may be provided by law, or both, or (b) terminate this contract and receive the earnest money, thereby releasing both parties from this contract.


So legally, all they can do is get their earnest money back plus anything they feel you owe them for inconveiniencing them, which they would have to take you to court to get.
Doesn't (a) specifically allow the purchaser to force the sale?
 
Old 05-29-2011, 04:01 AM
 
Location: Virginia
18,717 posts, read 26,831,493 times
Reputation: 42860
Nancy, my heart really goes out to you. Sometimes life can be so unfair. Hang in there, and here are more hugs from me.
 
Old 05-29-2011, 04:13 AM
 
448 posts, read 864,741 times
Reputation: 215
never thought there was still mean people out there that would do something like this in this kind of situation. but when there day comes they will be judged for this!!! hugs and you'll be in my prayers so you get to keep your house
 
Old 05-29-2011, 04:45 AM
 
1,339 posts, read 2,958,259 times
Reputation: 2219
nancy707:

I would recommend talking to the buyers face-to-face along with doctor's letter. It is very much possible they think you are lying just to get out of this contract. They could be thinking "why would this woman put her house on the market while she was undergoing tests?", "what is this medical treatment that cannot be done after relocating?", etc. It is very much possible they are emotionally invested in this house after a long search and therefore unwillingly to think rationally. Really, anything's possible!

I do not know how long is your medical treatment, but see if you can convince them to give you some more time to move out after settlement. You were anyways giving them 10K to withdraw; use that for paying rent.

It is very easy for people on this forum to brand the buyers as pure evil after listening to only one side of the story. Nobody knows the buyers' personal circumstances or situation, so I only hope that everything works out for the best for you and them. Bad-mouthing them to your neighbors is as childish and immature as it gets... ...

Take care,
K
 
Old 05-29-2011, 07:18 AM
 
504 posts, read 651,092 times
Reputation: 512
Nancy,

I'm sorry to hear about your situation. It must be really tough to have all that going on right now.

Is there any possibility of a misunderstanding with the buyers, especially since you haven't talked to them directly? Even if they are aware of your situation, you are not aware of the specifics of THEIR situation which may be what is driving them to insist on pressing ahead with the deal. They probably have some motivation other than being b@$***** for refusing what you have offered so far. If you can find out what that motivation is, you will find out what you need to reach a mutually acceptable solution.

Is delaying the closing for a certain amount of time an option OR selling with an agreement to rent back for certain period of time? These might be more palatable to the buyers if they have some reason they feel they need the specific house.

There are significant expenses for the buyers when a closing is delayed or falls through, which I think you recognized and tried to address by offering them $10K. However, the costs to them may be greater, especially if they have to start the househunting process over again. Paying for another house hunting trip, taking a significant amount of time off work, finding temporary housing (especially with kids and pets), putting their stuff in storage and then paying to move it again, possibly having an interest rate lock expire, and maybe having to pay $20k higher for an equivalent house in the same area are all legitimate concerns they may have. Like many buyers in this area, they may be stretching, so these financial concerns may be paramount for them. If that's the case, the good news is there is probably a number they are willing to walk away for.

The agents on both sides have a vested interest in closing the sale so I think it is important to get outside advice. I agree you should speak with an attorney to see what your options are. They may also be a more effective intermediary or negotiator than the agents. A lot of people who blow off a sob story from an agent may take things more seriously and be willing to negotiate when they are contacted by an attorney.
 
Old 05-29-2011, 09:06 AM
 
1,188 posts, read 1,818,438 times
Reputation: 979
Quote:
Originally Posted by Ben 'n Jen View Post
So legally, all they can do is get their earnest money back plus anything they feel you owe them for inconveniencing them, which they would have to take you to court to get.
The buyer can legally force the seller to sell the home and go through with the contract. That's the whole point of the contract. Can the seller make it such a pain that the buyer gives up and accepts their EMD back and moves on? Yes, but if the buyer REALLY wants the home the sale will happen.

Nancy, buying a home is a business transaction, and that is the how buyers are treating it. They may be selling their old house, starting work, etc - things they need to happen on certain days. The buyers don't care about your sob story and you (or anyone else) should not be mad at them for not caring. They don't know you.

If the buyer's came to you and said something medical came up and we can't buy the home can we please get our EMD back would you give it to them? Most people would not.

The easiest thing to do here is take the $10K you offered the buyers and use it to rent something small in the area while you continue your treatment. Best of luck and I hope you feel better.
 
Old 05-29-2011, 10:06 AM
 
5,071 posts, read 8,616,501 times
Reputation: 2722
I knew that, particularly with the number of recent transplants to the DC area, it was only a matter of time before the folks who'd start defending the buyers of Nancy's house emerged, although characterizing her medical predicament as a "sob story" seems gratuitous and unnecessarily harsh.

And, yes, selling a home is a business transaction, but it's typically not entirely impersonal, either. When we sold our house, we went out of our way to organize every piece of information we had about every appliance in the house, and all the improvements we'd made. We called the neighbors and told them a little bit about the buyers so they wouldn't be complete strangers when they moved in. In turn, when some valuable packages inexplicably got delivered to our old address more than a year after we moved, did the buyers call us right away and then arrange their own schedules so we could pick them up personally? You bet. It's called paying it forward.

The buyers here really can't have it both ways. They can require a settlement, but they shouldn't then expect to be greeted with milk and cookies by Nancy's old neighbors when the moving van shows up. That's called having your cake and eating it, too. My bet is that one of the reasons they liked the area was the sense of community. If their first message to the neighborhood is that their own convenience always comes first, they should expect to have to work their way into the neighborhood's good graces very slowly.

Cold shoulders - rather than the message that "anything goes" - can sometimes serve a useful purpose in a civil society.

Last edited by JD984; 05-29-2011 at 10:56 AM..
 
Old 05-29-2011, 10:48 AM
 
Location: Reston
560 posts, read 1,106,222 times
Reputation: 447
Quote:
Originally Posted by kutra11 View Post
nancy707:

...

Bad-mouthing them to your neighbors is as childish and immature as it gets... ...


Amen!
 
Old 05-29-2011, 01:01 PM
 
219 posts, read 410,399 times
Reputation: 154
Most likely, the buyers sold their house, and they need to move into your house because someone else needs to move into their old house. And then the buyer of their old house needs to move also, on down the line. They are not necessarily being "mean" -- they are doing what they have to do because they have legal and practical obligations. The movers are coming on a given date, they have to be packed up and ready to go, and so on. You can hardly expect them to live in a hotel with their stuff in storage until you're ready to move out. And if you do expect that, do you intend to pay them to do it?
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