| Oct. 5th, 2010 @ 06:42 pm The saga of Lesley's house |
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It's been a rather amazing week. Lesley's house was expected to close last Thursday. After six months of frustration the bank finally approved the short sale and everything was set to go. There was an issue that arose with the title and the lawyers agreed to do the transfer anyway and continue working on the problem. So, Thursday comes and the buyer's loan documents have not shown up from the bank. Nothing happens. Sep. 30 is the final day to get the $8K tax credit. We hear nothing on Friday, and finally find out on Saturday that the buyer is backing out because he can't get the credit. In fact, his realtor says he has given up on buying any house at all. Obviously, all of this is monumentally disappointing.
Yesterday the buyers send over the standard purchase agreement release, and they have filled it out such that the buyer gets his entire $1000 deposit back. When Lesley showed it to me I just about hit the roof. I looked at the purchase agreement and it is plainly stated that if the buyer forfeits, the deposit goes to the seller. She had to pay $375 for some last minute repairs that the buyer's bank supposedly demanded, so I suggested she keep that and return the rest - no reasonable person could disagree with that arrangement.
Turns out that she changed her mind today and had her realtor tell the buyer that we were keeping all of it. The buyer's realtor got mad and suddenly Lesley's realtor, who up until now has been very lax about defending her interests, flew off the handle. She screamed at the guy that we would sue the buyer for the full price of the house that we couldn't sell. And, here comes the kicker....
Now the guy wants to buy the house so he doesn't lose his $1K! That tiny (in the grand scheme of things) amount was enough to make him reverse his decision. The new closing is supposed to be this Thursday. We're not holding our breath until it actually happens, but the situation appears to have suddenly changed for the better. |
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