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Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,302,067 times
Reputation: 6471
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Soooooooo,
Out of state buyer in FL, making an offer on behalf of her adult son, decides after the inspection period to withdraw the offer and wants their earnest money back in full.
My agent hands the file to me and I spend 40 minutes on the phone with the "buyer".
Excuse #1; "The agent said we had 21 days to inspect." No, your inspection period is 17 days according to the contract. I ask when they decided that they wouldn't be proceeding with the offer.
"Last week, oh and BTW, I used to be licensed as an agent in the state of FL"
This would have put them well within the inspection period and they would have a legitimate cause to have the EM returned. I told the buyer that I would see if I could convince the seller to release at least a portion of the EM. Seller agreed to give the buyer 10% of the EM back. And even in FL (I hope) the contract governs.
Excuse #2; "Well I did sign electronically for the release of the 10%, but I couldn't read the document and now I disagree with it." After explaining how the written word counts and verbal doesn't, how is it you think that this is going to help your cause?
Excuse #3; Electronically signed one day after the above. "Here is the addendum giving me a full refund". Somehow signed by buyer using her maiden name and therefore not even a party to the original offer.
Excuse #4; I have vision issues and didn't (or couldn't) read any of the documents. Really?
Escrow company prepares the cancellation and distribution of EM based on signed documents, but requires another signature from the buyer. Buyer refuses to sign.
Arbitration time coming with a buyer who has no real leg to stand on, lives on the other side of the country and can't afford to get here.
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