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Replies (15)
- harrymeans
- Contributions:41
also, dont know if it makes a difference, i am in nevada
- Carol-Lynne Mittelbusher, "Carol Lynne"
- Contributions:642
If, as you say, the original offer "states $150,000 with 6% contributions not to exceed $9000.,"
then the addendum is NOT changing the terms. The total contribution was originally limited to $9000., so that does not appear to be a basis for disagreeing.
- Carol-Lynne Mittelbusher, "Carol Lynne"
- Contributions:642
Sorry,
- harrymeans
- Contributions:41
i just talked with my lender because I dont have my counter with me, he says it states, selling price to be $155,000 with 3% to down payment assistance and 3% to buyers closing costs. And if they were only going to pay $9000 i wouldnt have to sign an addendum stating that because my original offer stated not to exceed $9000, there counter offer didnt give a specific cap, hence why they are asking for the cap now. I just want to know if there is anything they can do if I dont sign the addendum, which in thinking about it i dont think they can do anything, because if i were to ask for them to do landscaping they can just say no, so i am just saying no. This is getting sent out for funding today, the builder signed the forms this morning.
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
$300 is a really small amount to squabble about in the scope of things, but just enough to get under your skin. In my humble opinion, it is easiest to call it a relatively small $300 lesson in dual agency.
- harrymeans
- Contributions:41
yeah, its not the amount, its the principal, and if it were 2 weeks after the contract was signed, i would understand they messed up, but it has been two months, since we signed the contract. And the agent didnt have the nerve to call me and present it to me, he sent it to the title company and told them just to email it to me. So i emailed him with my problem with it and he has yet to respond. If the seller wants to lose a deal over $300 then thats there issue. The agent should tell them they made a mistake in the wording and accept it.
- gialane
- Contributions:38
in this market, and my house is on the market....I would gladly pay the 300, screwup or no.....I agree with principle of it but geez, if it sits on the market longer you would probably have to lower your price way more than 300 to get a new deal, correct? As a seller, I would just fork it over.
- harrymeans
- Contributions:41
Gialane,
Im the buyer so I dont care if the house sites on the market for years, but i talked with my realtor, i told him i wasnt allowing the seller to change the terms on us, he said that the seller is refusing to pay the extra $300, so he said he would cover it with his commission. I feel bad for him in a sense, and if psush came to shove the seller would of paid for it, but whatever.
- 4jacks
- Contributions:300
Harry,
I honestly wouldn't of paid it either. I seriously would of walked away when they sent the counter as take it or leave it. If sellers want to play hard ball, there are plenty of other fish in the sea, come back in a few months and they would be more agreeable.
It's honestly the Agent's mistake, and it does sound like an honest mistake. Oh well, they are still making 9k on the deal, so I wouldn't feel too bad.
- Jo Soss, "JoSoss"
- Contributions:161
From what I have read and understood the agent is at fault. The agent should pay for the error. If the same agent is working both sides then they are the one that drafted the mis-worded addendum.
- orange hammer
- Contributions:103
don't be so stubborn for god's sake, $300..
- NTETS, "Mr Caveat"
- Contributions:6436
you should have sent them an addendum to sign with a zero missing. when they call to give you an ear full i would simply point out that they were the first one to renegotiate the terms of the agreement.
- Alicia Monahan, "aliciamonahan"
- Contributions:42
Basically the contract is the meat and potatos and any addendums change the terms previously laid out in the contract. If there was no cap in the addendum then there is no cap. You have to be very careful how you word contracts. Sounds like the goof is on the agent and they forgot to word it in the addendum to begin with. Only work with a dual agent if you trust them. Some agents are sheisty, others are completely trustworthy and are able to fairly represent both the buyer and the seller. $300 isn't enough to ruin a deal over, especially if it's the house you really want, but I understand your aggravation.
- broker_GRI
- Contributions:3454
I think it appropriate that the agent pay for the incorrect wording in the contract if he is the one who wrote it. Good for you! Congrats on the new home.
- Laura Bock, "laura bock"
- Contributions:134
I agree with the agent paying. Way to stick to your guns, your agent should have made sure that everything was worded correctly, that is what we are paid for.
Enjoy your new home!
Seller trying to change terms on day of closing...
We are supposed to close today, we had to extend the closing day by a week because the lender didnt know if the house was in a flood zone and it brought a whole lot of confusion. So, that got handled and my wife and I signed on Tuesday, this morning I got an email with an addendum changing the terms. We originally agreed on $155,000 selling price with 6% contribution, which equals $9,300. The addendum states the contribution will be a flat $9,000, which on the original offer it states $150,000 with 6% contribution not to exceed $9,000. The $155,000 with 6% was there counter that I accepted. I know its only $300, but its the principal of it. Also, this is a brand new home, and the seller is not the builder, they had a falling out, so now we are waiting on the builder to sign off on some forms for the loan, i.e. warranty and soil report. No one knows if he is actually going to sign off on it, he said he would but has yet to do it. What happens if I dont agree to the addendum? Can they refuse to extend closing even though they are the reason we still can't officially send the papers to the lender for final review? When I signed, is that officially closing? The agent is working with both us and the seller and is selling multiple properties with the seller, so he is not at all looking out for our best interest. When they countered our original offer, he told me it was a take it or leave it offer and wouldnt allow us to counter. This is our first house buying experience and has been the worst experience of my life....
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