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First Time Home-Buyer - Home Under Contract, But Seller Stalling

Strap yourselves in for what has absolutely got to be the worst luck a FTHB can have.

My wife and I have been under contract since late August on a house - and all contingencies from our perspective (inspection, appraisal, financing) have been met. We've been getting whipped around by the seller from the get-go. When we were negotiating the deal, they pushed us to commit to a super fast close because they had a house ready to go and pushed us to fund ASAP - of course we agreed and whipped everyone into a frenzy to accommodate them.

Then, after we signed the contract from our side, the seller goes silent for a week and we cannot get a proper response on why they have not signed the contract. We find out later that it's because they were negotiating the purchase of their house and were stalling us with no communication.

We finally get this all signed up, scheduled for an October close. My wife and I are discussing wall painting colors, furniture, where we're going to put the dog-pen. Rookie mistake. We get a mysterious call from our agent two weeks ago, that seller now says he can't close on the original date - his house fell through! We tell them that respectfully, that's not really our issue. MY AGENT tries to convince US why we would be horrible people to "put them out on the street". I reluctantly oblige, and asked my attorney to offer seller two options - push closing, but they would need to vacate at the time of closing. They now have come back and have demanded the following - a 3-4 week delay on closing, 1 month of rent-back, and will only pay an amount that is below my carrying cost. Agent advises "they absolutely will not budge" from that ask.

Let me tell you - I have never, ever been so upset in my life at the way we are being treated. We of course don't want to cause undue hardship on anyone - but now we feel like we are being taken advantage of.

Can someone (realtors, lawyers, experienced buyers) advise on what we should do here? Do we call their bluff and demand that we close on time? Would anyone actually advise going down the path of potential litigation (this is a cut and clear case - but at the same time, it would be a heavy emotional, financial, and time investment before we see the resolution we want)? What are my next steps here? (we really want the house...)

submitted by /u/Crimsontigers89
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/j1r9sq/first_time_homebuyer_home_under_contract_but/
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