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Old 06-19-2012, 03:32 PM
 
1 posts, read 2,724 times
Reputation: 10

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I felt pressured into selling my home and I realize that I don't want to - I will make very little money from it and I really don't have anywhere to go with my son - I pray that the buyers will back out ASAP - The appraiser went in today - I am hoping that the appraisal will not come in at the accepted amount - I will take it off the market and my son and I will have a home again - I was sick when I made the decision to sell! I fear it is too late - Pray that they will back out! HELP! I am a widow and I've lost my job - I can't lose my home also!
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Old 06-19-2012, 03:44 PM
 
Location: Austin
7,077 posts, read 16,885,085 times
Reputation: 9479
First, you don't sell a house to "make money". You sell a house to move on.
Second, if you felt sick when you "made the decision to sell," how did you feel when you received the offer? It's one thing to have second thoughts when you list it, and it's another thing to have second thoughts when you negotiate an offer, and it's still another thing to have second thoughts after you go through the trouble of executing an offer into a contract.

You might feel you're "losing your home", but how is the buyer going to feel when you tell them you don't want to sell anymore? They've lost inspection money, appraisal money, market time to look for new listings, and they might be in a lease that's up and need to move.

I understand you want an out with the contract, but look at the other side as well. I can see someone strong willing you to list your house for sale, but no one can force you to negotiate and execute a contract agreeing to sell. What else is going on? Memories? Make memories in a different place?
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Old 06-19-2012, 03:44 PM
 
4,919 posts, read 19,120,969 times
Reputation: 6171
Did you notify the Real estate Agent that you need to file an ammended Disclosure since your good friend came over who knows a thing or two about houses and said he thinks there is something that looks like mold in the floors, something that looks suspiciously like asbestos shoved in the attic, though he saw a mud tunnel with active termites around the foundation, and that he once heard from a friend who knew this guy that dates the waitress at the dinner who is the neice of some one who drove a truck that overheard a lady telling her husband that there are dead bodies buried under the house. Since these new issues could have a materialaopct on the house and value, you want to ammend the disclosure to indicate them until such time as you can have each professionally checked and declared not present.
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Old 06-19-2012, 04:40 PM
 
Location: Boise, ID
8,011 posts, read 22,499,039 times
Reputation: 9212
Quote:
Originally Posted by PrayerBeliever View Post
I felt pressured into selling my home and I realize that I don't want to - I will make very little money from it and I really don't have anywhere to go with my son - I pray that the buyers will back out ASAP - The appraiser went in today - I am hoping that the appraisal will not come in at the accepted amount - I will take it off the market and my son and I will have a home again - I was sick when I made the decision to sell! I fear it is too late - Pray that they will back out! HELP! I am a widow and I've lost my job - I can't lose my home also!
I know it is hard, but try to look at it from a logical view, instead of an emotional view. You say you've lost your job. If you don't sell, how long could you keep paying the bills? Are you going to lose the house in a year for non-payment anyway? If you sell the house, you said you will make a small amount of money. Would that money help pay the bills for a while while you get back on your feet?

Also, from your post and your name, I have to assume you are a religious person. If you truly have nowhere to go when/if the house sells, turn to your church. One of the things religious groups are really good at is helping people in need. I had 5 tenants this month who had their rent paid by the LDS church. I also know of several local people who were found places to rent (or stay with other members) by their church when their house was foreclosed on.
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Old 06-19-2012, 04:50 PM
 
Location: Florida -
8,235 posts, read 9,990,552 times
Reputation: 15072
Quote:
Originally Posted by PrayerBeliever View Post
I felt pressured into selling my home and I realize that I don't want to - I will make very little money from it and I really don't have anywhere to go with my son - I pray that the buyers will back out ASAP - The appraiser went in today - I am hoping that the appraisal will not come in at the accepted amount - I will take it off the market and my son and I will have a home again - I was sick when I made the decision to sell! I fear it is too late - Pray that they will back out! HELP! I am a widow and I've lost my job - I can't lose my home also!
Sounds like a case of "sellers remorse" -- With your job situation, I'm guessing that you felt financially pressured to sell your house ... to make sure you had money to live on (?) And, now that you have a contract, you are thinking, 'Oh my goodness! ... Where will I live?" (You didn't say how old your son is, or if you will get enough money out of your house sale to buy/rent another place)

Overall, it appears that you have quite a bit of stress in your life and don't feel like you may be making good decisions. Still, your options may be limited. If the appraisal comes back close to the purchase price ... and the buyer doesn't opt-out in the inspection process, a seller 'bail-out' could raise a 'breach of contract' situation and/or at least leave you owing the realtor fee.

Sometimes, finding 'peace in the storm' is as good place to wait-out a solution! This may be a wonderful opportunity for you to turn your moniker (PrayerBeliever) ... into a living reality. 'Rest in the Lord' and seek the "peace of God that passes all understanding" -- He is not stymied by your situation and has a plan for you that exceeds your immediate comprehension. He may even have a better solution for you beyond the sale you are so dreading (eg; freedom to move elsewhere and try a job someplace else or ??). At this point, 'thrashing' around like a drowning swimmer, is the worst thing you can do. "Be still and know that He is God.
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Old 06-19-2012, 07:28 PM
 
Location: NJ
17,579 posts, read 38,288,152 times
Reputation: 16098
You say you have no where to go. Wouldn't you take the money you were paying towards your mortgage and put that towards a new place?
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Old 06-20-2012, 12:23 PM
 
1,176 posts, read 2,663,483 times
Reputation: 451
Who pressured you? In what way? Were you misled in some way that you can prove? You're lookiing for ways to cancel the sale? Posters can express sympathy if that's what you are looking for, but otherwise you likely need to consult your realtor (who isn't likely to be happy about losing a commission but who should give you info) and an attorney (Legal Aid, perhaps, if you can't afford to pay an attorney). But unless you can prove the pressure was unethical or illegal or similar, you may just have to stick with your decision made as a consenting adult. People are actually losing their homes to pay off bills, because they can't make mortgage payments, etc. What if you were the buyer and made plans and the seller said they didn't want to avide by a contract? Your feelings aren't uncommon or unreasonable, but if you want actual action you need legal advice asap.
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Old 06-20-2012, 12:44 PM
 
2,613 posts, read 4,101,590 times
Reputation: 1869
Or just talk to the buyer, express your situation (no job, widower, child) and see if they can back out. Worst case is they want you to pay for appraisal.
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Old 06-23-2012, 07:13 PM
 
25,334 posts, read 37,463,648 times
Reputation: 13249
Nobody is forcing you to sell and you can still back out but it may cost you some money....
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