Skip to main content

Buyer Wants to talk to seller...

I'll spare all the fine details, but, the overview info:

  1. Selling agent royally screwed the pooch with the listing, failing to get all appropriate docs over upon acceptance (bank is involved in the sale). Now 75+ days into the transaction and set to contractually close in ~10 days.
  2. Buyer is very sick. Completed their homesale and moved here. Displaced and living in tent for over a month at this point. They are unable to get the treatment they need without a permanent address and are growing desperate.
  3. Buyer has been advised to sue for specific performance if purchase isn't closed on date, but they don't really have the money for a lawyer, either. Every lawyer (and the Realtor legal hotline, themself) said it is "open and shut in the buyers favor for specific performance."

Now, the buyer keeps telling me they are going to go over to the selling brokerage to calmly ask what is going on and how we can close this thing. I have been having to tell them to absolutely not do this nearly daily. Buyer is now asking me to arrange a "meeting between the agents, brokers, and buying/selling parties" to cooly discuss things.
I have tried and tried to explain how this is firstly very unlikely as the selling agent wouldn't want the seller to "spill more beans" and further incriminate themselves, but also how it inevitably will devolve into chaos and make things worse.
My buyer is getting desperate at this point.

Just looking for other thoughts on how to explain to buyer?

submitted by /u/INTER5TELLAR
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/ou11yh/buyer_wants_to_talk_to_seller/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

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