Skip to main content

Seller is having regrets and trying to get us to cancel?

Hi, everyone. First time homebuyer, here! My husband and I live in California and are in escrow for our first home. We were fortunate to view the house within its first few days on the market, as it was getting lots of attention due to being in really great condition with several upgrades. We ended up writing a letter to the seller explaining why we really loved and wanted her home, and got the home exactly at listing price. The seller clearly took pride in her home and claimed to be very pleased we were getting it.

Almost three weeks into our 45 day closing, we have already been conditionally approved for our loan and are just awaiting HOA documents to obtain a homeowners insurance quote. After that, we will be Clear to Close. The appraised value matches the listing price and we just had our inspection last week. Nothing major was uncovered during the inspection that would be a dealbreaker, but there were a few potentially costly repairs (such as a roof tuneup and some plumbing repairs) that we wanted to request from the seller. In California, we learned the seller by no means has to say yes to repair requests but we wanted to try to at least get a credit at closing. We knew in a worst case scenario, she would say no and we would have to be okay with that because this house is a great fit for us.

The seller sat on our repair request for days. Finally, we received forms back from her agent declining every request we made. Again, we knew this could happen, but our agent called the seller’s agent to try to negotiate. Evidently, the seller has changed her mind regarding the price she sold the home at and has decided that she won’t be negotiating anything anymore. Rumor has it that people in the seller’s life have been insisting she listed too low and now the seller is having regrets and is seeing if she can push us to cancel the contract.

Our good faith money is in the escrow account, our contract is ironclad with all appropriate signatures, and we have met every single deadline for removing all contingencies thus far. My questions is this - can the seller truly back out of the contract at this point? Do you think she will try to somehow sabotage the deal so that she can back out of it? I guess I don’t understand because the neighborhood comps matched the price of the home, so even if she had listed higher I feel like she would have ended up needing to do a price reduction if it appraised lower.

Thanks for any and all insight! As a first time homebuyer, this whole process has been overwhelming to say the least.

submitted by /u/biologycellfies
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/ck3q6e/seller_is_having_regrets_and_trying_to_get_us_to/

Comments

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...