Skip to main content

a buying nightmare!

So...this is my first post on Reddit and one I write with sadness and looking for advice.... Like many we have sized out of our home and had embarked this summer on finding a home with more space and a better school district. We found a beautiful home that both my husband I loved (this is hard to come by!). Things start to get sad here: The sellers were relocating to a different town and our contract was with the relocation company who we signed with and exited attorney review on 7/30. We had an inspection a few days later which was riddled with issues but we negotiated 28,500 at closing to fix all the issues. This agreement was agreed to in an email with their attorney on 8/15. Our attorney sent a rider following that which they never signed (and honestly we overlooked). We were waiting for receipts on some termite treatment that they sent through on 9/2. Unfortunately before we could send our signatures back, the relocation agency sent us a letter on 9/4 saying the sellers are “no longer moving forward with their relocation and thus the they (relo company) can not provide us with title” ergo the sale is null and void. It was in our contract that the relocation company has to receive documents for title transfer in order to go through with the sale. During all this we entered into attorney review on our home and removed the inspection contingency as well. We also enrolled our son in the new school district by providing the sale contract. Which they will honor for 2 months and then we have to be out of the school. We have retained services of a lawyer who thinks we have a decent case but he is not overly positive. I would love to hear thoughts on what we can pursue - damages/compel a sale? Located in NJ!

submitted by /u/samizzle123
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/j1q2wg/a_buying_nightmare/
Labels:

Comments

Post a Comment

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...
1 comment
Read more

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...
Post a Comment
Read more