What would you do in this situation…? - Posted by RobertMD
Posted by RobertMD on October 16, 2003 at 24:37:44:
I had made an offer on a house that has been sitting vacant for a few months. I have already done inspection, appraisal… and we were just a week or two away from closing although no definite date was ever set. Seller wrote on the contract that he would like to close earlier than usual.
I had asked seller for closing help, which he fully accepted. The seller was honest and disclosed everything he knew about the property…
Anyway, my agent faxed over the inspection contigency report a few days ago listing about 20 things to fix, including even minor things such as patch and paint.
The seller’s agent responded rather quickly (
verbally) saying that he heard from seller that he’ll fix most things but awaiting the estimate for the repairs for the major electrical and ventilation work.
The inspection clause says he must respond within 3 days. Although he responded verbally and began most of the repairs within 3 days, on the 5th day seller’s agent called my agent with the surprising news.
The seller’s agent said that seller’s wife lost her job and that they have been going into a financial struggle, which means they can no longer afford to make the heavy mortgage payments in their other home so they want to move back to the house which I was supposed to move in to. They’ll either sell or rent their other home.
When the seller’s agent called, my agent went hysterical and practically yelled at the other agent saying that he doesn’t care about seller’s situation and that 1) the seller has signed a legally binding contract, 2) is responsible for paying the commission for bringing a buyer, and 3) subject to a possible lawsuit for being in default.
The seller’s agent says he’ll ofcourse return the deposit and will ask seller if he’ll refund the out of pocket expenses that I had incurred so far.
I also heard from the seller’s agent that the estimate of repairs came in higher than the seller had expected, so he can’t afford to fix those things due to higher than expected estimated repairs. (around $1500 ~ $2500?)
I believe the contract says that the seller is responsible for fixing electrical, mechanical, and plumbing related issues.
Sellers Agent says that he responded within 3 days and clearly told us that seller’s awaiting estimates for repairs, hence the reason for total of 5 days, or 2 days late. The inspection contingency does say that both parties may withdraw, but only if responded within 3 days and if it’s not related to the electrical/plumbing/ issues.
Anyway… I’m dragging on and on. I really like that house but not sure what the right thing to do is…
Do I have a case in court or am I wasting my time?