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I received some very disappointing news this afternoon. The dream house of mine and my significant others had its contract terminated by the seller.
Let me first off by stating that the seller is a relocation company. We already had the house inspected and sent our repair orders to the seller. We were waiting to hear back from there response. Everything seemed great and we thought the house was ours.
However, 5 days since the inspection/repair was sent to the sellers, they decided to cancel the contract saying that their client (the seller) no longer had to relocate.
Does this seem right? Has anyone else seen this happen. We are so disappointed
Yup....if they have 10 days, then they can do it. If their circumstance changed, which it sounds like it did, then they have the right. So sorry you lost your dream house.
They are saying relocation cancelled but could it be that at the price they accepted from you, that your list of things you wanted were to expensive/demanding thus it is cheaper/easier for them to say relocation cancelled?
It does say that within the inspection, they have 10 days...which is within that time period.
Just curious if anyone else has heard this happen.
OK, wasn't sure if you knew this was allowed or not. You may not like it, but that's a risk you take if you agree to the contract terms. Sorry it happened to you.
They are saying relocation cancelled but could it be that at the price they accepted from you, that your list of things you wanted were to expensive/demanding thus it is cheaper/easier for them to say relocation cancelled?
Inquiring minds want to know...........LOL
That really doesn't make much sense. If they didn't want to spend money on the repairs, they could have just said so and see if the buyer would back down and continue. Worst that would happen is the buyer cancels which is the same effect in the end, but with potential upside to the seller if they don't. I'd bet the relocation cancellation was real.
Does everything done in the real estate market make sense and for that matter legal?
The OP implied the relo company could cancel the sale within 10 days of the inspection for any reason. Did they get a cancellation stating the reason for canceling the sale in writing?
The market is no longer just a buyers market. It is shifting. Could it have been a higher offer?
If they really want the house, it is worth looking into.
Does everything done in the real estate market make sense and for that matter legal?
The OP implied the relo company could cancel the sale within 10 days of the inspection for any reason. Did they get a cancellation stating the reason for canceling the sale in writing?
The market is no longer just a buyers market. It is shifting. Could it have been a higher offer?
If they really want the house, it is worth looking into.
Inquiring minds want to know.........
This has went through my mind. I know that it technically isn't legal for that to happen. I just find it so weird that it came at this point.
All that I received was an email from the sellers agent saying that the seller wanted to terminate the contract.
That's all. It's just so disappointing. We were so ready for this house.
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