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Old 09-24-2015, 05:06 AM
 
Location: South Carolina
13,820 posts, read 18,775,199 times
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I'm just curious has anyone gone to closing and the seller backed out at closing ? if so what did you do ? I heard of this happening and what was your first clue that they would do this ? do sellers give any indication that they were going to do this ? Oh well just was wondering .
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Old 09-24-2015, 10:08 AM
 
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Might be an individual area thing. I like places where realtors are fairly respectful of each other and let each other know what is going on and where realtors check on what is going on with each other and the loan officer. Some clues are how did the inspection go and how is the loan progressing.
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Old 09-24-2015, 01:58 PM
 
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I've had a buyer pull out at the day of closing because their loan fell through.
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Old 09-24-2015, 02:44 PM
 
Location: New York
743 posts, read 457,620 times
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The scenario might be slightly different but our sellers almost backed out at closing. We arrived the morning of the closing not really knowing what to expect or whether it was going to take place at all. In short, the somewhat unmotivated sellers waited until 2 days prior to closing to complete their mandatory town property inspection, and of course the inspector found issues that had to be remedied before they would issue the certificate. We were given this information 24 hours prior to closing. Essentially, the entire sale very nearly fell through due to a missing light bulb and a smoke detector. Meanwhile, we had to be out of our apartment in 2 days and were making plans to check into a hotel and store our furniture. Yikes.

No real advice to offer anyone who finds themselves in this scenario, but it was definitely a stressful situation. As buyers, we just had to remain positive and do everything we could to get our paperwork in order so we'd be ready to close as quickly and painlessly as possible. On the morning of the closing we arrived with a glass-half-full attitude and it eventually worked out.
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Old 09-24-2015, 03:19 PM
 
15,733 posts, read 9,244,311 times
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Quote:
Originally Posted by phonelady61 View Post
I'm just curious has anyone gone to closing and the seller backed out at closing ? if so what did you do ? I heard of this happening and what was your first clue that they would do this ? do sellers give any indication that they were going to do this ? Oh well just was wondering .
I don't think the seller can back out.
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Old 09-24-2015, 03:44 PM
 
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My aunt had it happen about a year ago. She was ready to close on her new condo, was all boxed up and ready for the mover to come that afternoon, went to the Real Estate Attorney, was there with both agent and the buyer doesn't show up. They called his home, his office, his cellphone. No answer. I believe he disappeared for over a month.

My aunt was able to cancel the movers for a small fee, not sure about the details of the condo but she is still in the 'old house' and just finishing unboxing everything. She kept the deposit but the turmoil was terrible.
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Old 09-24-2015, 03:58 PM
 
914 posts, read 773,955 times
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Quote:
Originally Posted by MidValleyDad View Post
My aunt had it happen about a year ago. She was ready to close on her new condo, was all boxed up and ready for the mover to come that afternoon, went to the Real Estate Attorney, was there with both agent and the buyer doesn't show up. They called his home, his office, his cellphone. No answer. I believe he disappeared for over a month.

My aunt was able to cancel the movers for a small fee, not sure about the details of the condo but she is still in the 'old house' and just finishing unboxing everything. She kept the deposit but the turmoil was terrible.
That's awful, what if she had to sell her house as well, and be out. She'd be living in a hotel, or with someone, with all her stuff in storage!
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Old 09-26-2015, 08:35 PM
 
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Originally Posted by twodoor2 View Post
That's awful, what if she had to sell her house as well, and be out. She'd be living in a hotel, or with someone, with all her stuff in storage!
Looking back at my post I wasn't clear. It was the sale of her house that fell through! The buyer just disappeared. She had a contract on a condo she was moving to.
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Old 09-27-2015, 01:26 PM
 
Location: South Carolina
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Originally Posted by ringwise View Post
I don't think the seller can back out.

Yes they can and do we just had it happen to us this morning and our agent is arranging to receive our out of pocket money ...however I will not sign a release of the contract until we have our money back and if we don't sign she cannot re sell either and it will cloud her title so she will be in a fix as well .
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Old 09-27-2015, 01:58 PM
 
Location: New Orleans, LA
1,728 posts, read 3,137,954 times
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Quote:
Originally Posted by phonelady61 View Post
Yes they can and do we just had it happen to us this morning and our agent is arranging to receive our out of pocket money ...however I will not sign a release of the contract until we have our money back and if we don't sign she cannot re sell either and it will cloud her title so she will be in a fix as well .
Oh!! I am so sorry this happened to you this morning. Good luck and I hope you get your earnest money back soon and can move on.
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