Real Estate Agreement,..... MESS for lack of better words. (Republic: renting, mortgages)

[jmcconville]

ok, so where to start... We signed an agreement back in August to purchase a home. We were supposed to close on 10/4. but thanks to the government shut down on 10/1, we did not get our clear to close in time. So we had to extent the closing date on our contract.
Now before we sent over the change in closing date information, the seller had asked to stay in the house after we close, I said no. Not that I had to give him a reason, but I'm pregnant and in reality this baby could come at any time now. Then he asked to "rent" the pole barn for a few weeks while he waits to close on his new house. We said sure, and gave him a price. He never replied to us.
Ok, so on 10/4 we sent over the paper to change the closing date, well as of today 10/15, we had not gotten anything back. Mind you my agent is out of town until the 23rd, so the broker at her office is helping me. She ended up having to contact the selling agents broker to get any type of reply.
Now the listing agent is saying that he wont agree to the change in closing date, IF we do not allow him to stay in the house longer.

So my questions is
1) did saying we needed to extend the closing date due to the government, open up the tables to change the starting contract that has been signed since day 1?
2) What do I do??? LOL

I feel like he is changing things that shouldnt even be up for discussion... This whole mess was not our fault.. It was the governments fault!!

Maybe I should sue them...

[jackmichigan]

Originally Posted by jmcconville

Maybe I should sue them...

Well, good luck trying to sue the Republicans. They will claim that they're not responsible...and, in a sense, they'd be correct.

This is pretty new territory and I'm not sure there's much you can do about it. Reasonable people will realize that the delay is not your fault and will adjust their schedules accordingly. The situation is no reason, however, for anyone to try to gain a post-closing tenancy advantage. That type of blackmail is better left to the low-lifes in Congress.

[belleislerunner]

Fact - You were supposed to close on Oct 4. You did not. The reasons are just excuses.

Fact - He proposed staying in the home later as a term of a new closing. You said no.

Result - You failed to meet the terms of your original contract and he would rather find a more flexible purchaser.

End of story. Move on.

[jackmichigan]

Originally Posted by belleislerunner

Fact - You were supposed to close on Oct 4. You did not. The reasons are just excuses.

I bet if you were a victim of the government shutdown you'd have a different attitude about it. If you'd read the posts in the real estate section, you'd realize that the government shutdown--a wholly foolish and childish tactic by Republicans--impacted a great many real estate closings across the country. People weren't at fault, they were victimized.

[belleislerunner]

The purchaser was aware of the timeline to close in August. Crying foul over the government shutdown is a thinly veiled attempt to justify her procrastination. Still an excuse.

[jackmichigan]

Originally Posted by belleislerunner

The purchaser was aware of the timeline to close in August. Crying foul over the government shutdown is a thinly veiled attempt to justify her procrastination. Still an excuse.

To justify "her" procrastination? I don't see anything in the OPs post which would suggest that they procrastinated. A lot of government-backed mortgages simply couldn't close because, with a shutdown, some routine services could not be delivered.

But you're apparently steadfast in blaming the poster, even though there are no facts in evidence which would suggest that they were to blame. So be it.

[ClayRing]

Originally Posted by belleislerunner

The purchaser was aware of the timeline to close in August. Crying foul over the government shutdown is a thinly veiled attempt to justify her procrastination. Still an excuse.

Not sure how the buyer is at fault here. You can't control when an FHA loan closes. 6 weeks is typical, which would put her in August when the offer was made. Doesn't seem like procrastination to me. The seller, however, can be accused of procrastination. What would have happened if there was no shutdown and they closed on 10/4? He'd be out on the street by now.

At the same time, I don't blame the seller for trying to take advantage. He wanted to remain in the home and was turned down - I would have turned him down too, but he clearly did not prepare a plan B. With different circumstances, he has an upper hand and I don't blame him for trying. It is a business transaction, not an emotional one. This is the first offer in a negotiation. Maybe the agreement will end up being new closing date + renting the pole barn for a reduced fee.

[jmcconville]

Originally Posted by belleislerunner

Fact - You were supposed to close on Oct 4. You did not. The reasons are just excuses.

Fact - He proposed staying in the home later as a term of a new closing. You said no.

Result - You failed to meet the terms of your original contract and he would rather find a more flexible purchaser.

End of story. Move on.

please explain how the government shutting down and the USDA not working is an excuse? How in the hell would we have closed if we could not legally??????

[jmcconville]

Originally Posted by belleislerunner

The purchaser was aware of the timeline to close in August. Crying foul over the government shutdown is a thinly veiled attempt to justify her procrastination. Still an excuse.

We had a closing date of 10/4, the government shut down 3 days before, and we were only business days away from the CC being on my lenders desk. IT WAS COMPLETELY OUT OF OUR CONTROL. Our paperwork was ready to go, we just had to get the appraisal which was put off 2 weeks BY THE SELLER. NOT US. We have done everything WE agreed to and in the time frame WE all agreed to minus closing.

[belleislerunner]

Facts have no emotions.

You didn't close by October 4.

Next.