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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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My worst nightmare came true
I am three weeks shy of closing and my buyer is backing out!! Three weeks ago she put in a request to close early. I am boggled by how you go from wanting to close early to not at all?? No explanations are being given yet and so now we go into litigation for her deposit which my lawyer says we will win. I cannot believe this is happening and am so miserable! She is all cash and I was told there was a less than 1 percent chance this could fall through! And the kicker is that we went out and rushed to get a new place because SHE was sooooo anxious to close early. Is there anything you can think of that I should be asking besides why? Dh and I want to sue for damages too. Any advice is so much appreciated.
Back to square one now. I have been crying nonstop
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Posted 4/5/11 5:50 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
KS13
Life is good.
Member since 6/10 1203 total posts
Name:
K
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Re: My worst nightmare came true
I don't have any advice but I wanted to say that I am sorry that is happening to you. 
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| Posted 4/5/11 5:51 PM |
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allIwant
Love my crazy life!
Member since 1/10 9170 total posts
Name:
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Re: My worst nightmare came true
No advice but lots of  I know how it feels! So sorry!
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| Posted 4/5/11 6:32 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: My worst nightmare came true
Same thing happened to my parents. They also had an all cash buyer and don't worry you will get the deposit.
Talk to your atty but your atty will have to send a time is of the essence letter and the time will have to lapse before you can get the deposit. It probably wont ever get to litigation. It will just take a month or two.
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| Posted 4/5/11 6:51 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: My worst nightmare came true
Posted by alli3131
Same thing happened to my parents. They also had an all cash buyer and don't worry you will get the deposit.
Talk to your atty but your atty will have to send a time is of the essence letter and the time will have to lapse before you can get the deposit. It probably wont ever get to litigation. It will just take a month or two.
It can go to litigation unless the purchaser willing gives up the money. If the purchaser's attorney sends a letter to your attorney saying not to release the money your attorney cannot just release it to you. Also you can try and sue for damages but contracts usually states that in the event of a default by purchaser the parties agree that the downpayment is sufficient damages because they cannot be determined. I hope this all works out for you. Good luck
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| Posted 4/5/11 9:39 PM |
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bride07
Ava Rose you are an angel!!!
Member since 3/09 6115 total posts
Name:
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Re: My worst nightmare came true
I'm so sorry!
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| Posted 4/5/11 9:58 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: My worst nightmare came true
I hope that they put down a considerable downpayment especially considering a cash buyer. Sorry this is happening to you, I wonder why!?
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| Posted 4/5/11 10:41 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: My worst nightmare came true
Posted by JandJ1224
I hope that they put down a considerable downpayment especially considering a cash buyer. Sorry this is happening to you, I wonder why!?
We are boggled! Going from wanting to close early tot this! Unfortunately her down payment was on the smaller side which we thought was odd considering she was cash.
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| Posted 4/6/11 5:55 AM |
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Jenhos
Maeve
Member since 6/05 3273 total posts
Name:
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Re: My worst nightmare came true
I'm sorry! That stinks!
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| Posted 4/6/11 7:25 AM |
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