Question: We signed
a contract to sell our Home contingent
on the buyer getting a loan approved & closing it by a given date. The buyer did not get the loan & the deal
was off. We started showing the house
again, but have now found out that the buyers got financing through a different
bank & they can close by the original deadline. Are we still obligated to
close or can we change the contract to better ourselves?
Answer: Wait a
second. Go back to the part about the “deal was off.” Did the buyers agree
the transaction was finished? Did they get their earnest money back? Or did
they simply find a financial bump in the road? Their offer was fair &
acceptable— otherwise you would not have had a contract. The offer from the
buyers may be the best you’ll get. Instead of seeking advantage from their
difficulty, congratulate them for trying to meet the terms of the agreement
& enjoy your check at closing!
No comments:
Post a Comment