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Old 05-03-2015, 09:39 PM
 
2 posts, read 1,656 times
Reputation: 14

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I live in st louis mo and I have signed a contract on my house, aggreed on what I would fix and now I have received a better back up offer so of course I would like to get out of my first contract. I am trying to find a way out.
Here are the facts, the buyer got an appraisal under fha that came in low so they switch banks and got fha to issue another case number so they are trying again with the new lender. Not sure if I have anything with the fact that they have now switched banks from what was originally on contract?? I have tried to get buyer get out by offering to pay any cost they have in inspections and appraisal thus far but they are still holding on. the secound appraisal is on the 5th and the contract states they must secure financing by the 8th but they say they will meet date. Is there anyway to run out the clock??
I am not trying to be a jerk but the money difference the two is substantial.
Any help?? thanks
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Old 05-04-2015, 06:41 AM
 
1,251 posts, read 1,080,596 times
Reputation: 2315
Quote:
Originally Posted by homesell View Post
I live in st louis mo and I have signed a contract on my house, aggreed on what I would fix and now I have received a better back up offer so of course I would like to get out of my first contract. I am trying to find a way out.
Here are the facts, the buyer got an appraisal under fha that came in low so they switch banks and got fha to issue another case number so they are trying again with the new lender. Not sure if I have anything with the fact that they have now switched banks from what was originally on contract?? I have tried to get buyer get out by offering to pay any cost they have in inspections and appraisal thus far but they are still holding on. the secound appraisal is on the 5th and the contract states they must secure financing by the 8th but they say they will meet date. Is there anyway to run out the clock??
I am not trying to be a jerk but the money difference the two is substantial.
Any help?? thanks
Anybody can offer anything on a house...a house is worth what it will close for, though. Are you sure the house will appraise for whatever amount your new buyer is offering? I'm surprised the first buyer is trying again...if I put an offer on a house and it didn't appraise, I would not pay a penny more over the appraisal.
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Old 05-04-2015, 10:33 AM
 
2 posts, read 1,656 times
Reputation: 14
The second buyer is paying cash. He will not be getting an appraisal. This is why I want out of the first contract, it is as is not inspections no appraisal and he is paying 15,000 more than the people I am currently under contract with.

Thanks
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