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Who is nuts? Seller, sellers agent or us for staying?!

I will try to make this brief. It will be difficult. Upped our price point due to a recent inheritance. Immediately found a house perfect on paper. Scheduled to see it. Got sick so husband went alone. He came home and said it was perfect. He was clearly in love. I went to see it two times after. We made an offer. The negotiations on the sale price went well. Had home inspection done. Found multiple water damage points as well as a leaking above ground cast iron sewer pipe in basement. We submit a repair addendum asking for everything expecting negotiations. Thus begins a huge fight. Seller initially agreed to fixing one window creating water damage. We went back for the pipe to be fixed also. They simply did not want to make repairs themselves. They offered $2500 for repairs plus $5000 in closing costs. Before we could agree to this our realtor went back to insist the pipe be fixed by them prior to close as its a health issue and we are moving in with four small children. They came back they would fix pipe (and window) but we were not allowed to reinspect. We rejected this and signed the original offer of $2500+$5000. At the same time we have been doing everything our lender has asked but we got held up with a technicality on our down payment so we needed an extention to get the mortgage commitment letter. At this point they said they would not sign the extension and wanted us to sign the release. We have not. Then we go back and the sellers broker says they got a new plumber who says they don't have to fix the pipe at all so the new deal is 5000 only at closing and they have the right to continue to try to sell to someone else up to closing. My realtor asks the sellers broker to put it in writing. She refuses and says she will not put anything in writing and the offer is only good for 24 hours. We realize we have to accept the 5000 but won't allow them to sell it from under us. This seems insane. Any thoughts?
  • August 07 - US
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Answers (8)

WOW.
It sounds like they have another buyer in the background, were only on the market a couple days and think they can do better or you are in a hot market.
 
I would ask that they have that plummer put his/her professional opinion in writing and sign it on letterhead including his/her name, company, contact info and license/certification number and supply you with it. That gives you possible recourse. Nothing exists unless it is in writing. This brings us to the issue of "this special offer is only good for 24 hours". Either they put it into writing or your agent drafts an addendum stating that if they agree to the extension, you agree to such and such terms to satisfy the inspection period/contingency. They can be allowed to offer the home for sale up to closing for "backup offers only". This relives any seller doubts about getting it sold and any of your doubts about not getting it sold out from under you. If it is possible for your agent to speak to the other agent as two agents working together toward a solution rather as adversaries, it can also go a long way.

 
Good luck.
  • August 08
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You had a bad experience. I suggest you consider cancel it. Make sure you can get your deposit back.
  • August 07
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there is nothing wrong with renting for a year between selling and buying.   Rent in the school district of choice.
  • August 07
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I'm sorry I wasn't more clear. We don't need an extension on the closing... We need an extention for the mortgage commitment letter (which we already have with contingencies for appraisal and title search. We have both signed 2500 + 5000 but they aren't interested in fulfilling that contract. Now we need to sign the 5000 credit/no repairs addendum for them to sign the extension. To be clear, we are no longer emotionally attached to property. We just don't want to lose the perfect buyers on our house and need to get this settled for our children to enroll in school etc.
  • August 07
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Who is nuts?   There seem to be strange things happening on all sides.

You need a stronger agent, perhaps more experienced.  Perhaps it is time to move on.
  • August 07
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You need a good Realtor and to put all agreements in writing.  However the seller is under no obligation to give you an extension as your contract has an agreed to closing date.  Best of luck!
  • August 07
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You are being messed around, but I think it is because they know you are emotionally attached to the property.  Not allowing a reinspection, threatening to sell it to someone else while you are already in escrow, reneging on offers, refusing to sign extensions, refusing to put terms in writing... These are all tactics to put the pressure on you and play on your emotions.  It is extremely unprofessional of the listing agent and seller to do this. They need to make clear offers in writing or cancel the contract with you and release your earnest deposit.
  • August 07
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1. Did appraisal mention leak or health and safety violation (you may have problem closing if not fixed)
you will pay for reinspection if this is the case.
2. Unknown plumber where you aren't allowed to inspect, that doesn't feel right
3. Now new inspector says no leak-  does not sound right.
Do you have a plumbing contractor's estimate of the cost that you trust? What if the plumber opens it up and says all the pipes are shot?
An inspector can't open up walls and inspect. Age of home? Location?
How many days are you past the close date?
GET a backup lender if they have some hang up. Get docs out now.
You have the $2500 + 5000 in writing?
They can put the listing back active if you have not performed

  • August 07
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