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Buyers are threatening to back out! Vent
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ckone
LIF Adult
Member since 8/06 3014 total posts
Name:
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Buyers are threatening to back out! Vent
So we all agreed on June 1st. Now, they are saying that they locked in and it (rate) expires May 20th. Contracts aren't even signed because the attorneys can't get it together and the title report is not even ordered.
They are saying that we close May 20th or they walk. You know what, I might be relieved if they walk at this point - I don't know. How dare they? The original draft of the contract even says June 1st.
Mind you if we do close May 20th they wanto get the hardwood floors done and rip up the carpets while we are stil here for a week.. I have a 14 month old baby.....
Message edited 4/17/2007 9:45:38 PM.
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Posted 4/17/07 9:34 PM  |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: Buyers are threatening to back out! Vent
My Friend and her FH just bought a house and had the same problem. They came to an agreement with the seller that they would close early so they could get the locked in rate, but the seller had two weeks to move out and they couldn't do anything in the interim since the seller accomodated them for the rate.
Maybe they will agree to that?
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| Posted 4/17/07 9:57 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Buyers are threatening to back out! Vent
If you want to keep them as buyers and they are concerned about the rate lock, maybe you can offer to pay to extend the lock for them if you do not close by 5/20? I would not agree to let them come in and do anything before the closing.
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| Posted 4/17/07 10:08 PM |
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riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
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Re: Buyers are threatening to back out! Vent
Or they lock on 5/20 and you pay them rent for 10 days.
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| Posted 4/17/07 11:20 PM |
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JustBrowsin
LIF Adult
Member since 2/07 1147 total posts
Name:
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Re: Buyers are threatening to back out! Vent
Posted by Gertyrae
My Friend and her FH just bought a house and had the same problem. They came to an agreement with the seller that they would close early so they could get the locked in rate, but the seller had two weeks to move out and they couldn't do anything in the interim since the seller accomodated them for the rate.
Maybe they will agree to that?
This is what we did when we bought our house. It was weird to go to closing on a house and have someone else living in it for 2 weeks, but we got a really good rate and couldnt pass it up. The closing date really should be somewhat convenient for both parties, I think. I would think your lawyer wouldnt agree to the floors getting changed while you are still in there though. Maybe you could negotiate to get the closing date they want, but with no changes until after??
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| Posted 4/18/07 10:56 AM |
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