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Seller walked away from closing

16,668 Views | 79 Replies | Last: 11 yr ago by bearmw
jopatura
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UPDATE:

About a month after we moved into a different house that we bought, we get a three-page handwritten letter in the mail from the mother of the house we lost. She basically confirmed everything we suspected about losing the property. She helped her son buy the house when he was 21 because they thought it would be good for rental income in the extra bedrooms. The son didn't take into account that his party friends made horrible roommates and the property was in Pflugerville... not a great hip spot to rent to partying 20-somethings. He didn't tell his mom how much he screwed up his credit in the year and a half they owned the property. Every lender laughed him out of their offices. He was told even if he brought $50k+ to the table in a down payment, they still wouldn't lend him the rest because it was so bad. He couldn't rent at any apartment complexes because he refused to give up his pet pitbull. No private landlord would rent to him because he had a criminal record. They can't sell now until they get enough equity in the house for him to buy something outright with cash.

Then she talked about how there was miscommunication between her and her real estate agent. Apparently she was going to refuse any offer that wasn't full price + the $2,000 carpet credit. She felt that the agent didn't make our offer clear enough to her to realize that we were also asking for them to cover our buyer's closing costs. She said in the letter if we had sued her, she would have counter-sued the agent because she had "documentation" of the miscommunication. <-- We think she was lying about that.

She's now going to move in with her son to keep him from losing the house and completely destroying whatever credit he has left. This will also keep him from being homeless, because he loves his dog too much and will not rehome it to keep a place over his head. She sounds like a crazy enabler, because she also mentioned in the letter that she had to leave her niece in San Antonio who was struggling to take care of her three kids and she was their unpaid babysitter.

Then comes the fun part of the letter, where she told us that she knew that her agent paid us for the costs that we were out of pocket trying to buy the home. She said because we didn't lose any money, we should give her our appraisal of her property because she needed it to refinance the mortgage to get rid of the PMI. Apparently, paying for a full appraisal would break the bank for her and we have one we got "for free". The lady must have some huge balls asking us, because there is no way in hell we would ever hand it over after what she did to us. She has tried contacting our bank, but luckily they gave her diddly squat. We told her agent that she was in contact with us and to give her none of our information. The only reason she had our old address was from her closing documents and mail forwarding delivered it to our new place.

Ahh, crazy people. In the end, I'm so glad we lost that property. Something tells me we're already going to be dealing with them more then we want.
IrishTxAggie
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Step 1- Purchase "Fits It Ships" box from USPS
Step 2- Take a big poo in box. Stinky and after Mexican Taco Night
Step 3- Mail box to the non-seller with an attached letter stating that this is now what her property is worth.
YellowPot_97
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wow
dubi
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Post removed:
by user
AggieBusDriver
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That's freaking nuts man.

Never got the letter, sorry lady!
ramirez78
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Up until closing and final signatures, people can walk away. You could have walked away if you wanted. My agent has had buyers she's represented walked away at closing. It's rare, but It happens. they decided they didn't like the deal, move on, find a new house.
Diggity
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quote:
Up until closing and final signatures, people can walk away. You could have walked away if you wanted. My agent has had buyers she's represented walked away at closing. It's rare, but It happens. they decided they didn't like the deal, move on, find a new house.


I think we all realize that you can't physically force someone to close on a house.

There are enforceable contracts in place though and it's up the the parties involved whether they want to seek legal recourse.

[This message has been edited by Diggity (edited 3/27/2014 11:53a).]
Max06
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Wow. Just...wow.
ramirez78
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Yep you can seek legal recourse if you like. Probably the lease costly alternative is just to move on to the next one, obviously. I'm sure the last thing either party wants is to close on a deal that either side becomes uncomfortable with. We all want both parties to be comfortable with the deal. It's unfortunate that it went this long in the process before they made that decision that they weren't comfortable with the terms. That should have happened before they signed the contract.
bearmw
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quote:
Step 1- Purchase "Fits It Ships" box from USPS
Step 2- Take a big poo in box. Stinky and after Mexican Taco Night
Step 3- Mail box to the non-seller with an attached letter stating that this is now what her property is worth.


10 years ago I would have totally done something like this.

Man, the person I feel most sorry for is her agent. This b1tch sounds wack.
 
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