My relative owns a small apartment complex and hired me to manage it several years ago. They are getting older and want to get out of real estate so they decided to sell. I live onsite and my adult child lives in another apartment. The realtors accepted an offer the day after the property was listed, sending it by email to my relative among the listing contracts and he didn't even know there was an offer until it was pointed out to him, at which point he made several counter-offers to try and get some of our baselines back. We wanted a longer escrow so I could find a home to move to, and for the realtors to help me find it in time. The buyers wanted the property delivered empty in a couple of weeks. They insisted on a thirty-day escrow, us moving into a single unit for a few months after escrow and they lowered their offer to account for the rent our unit would not earn, by more than the going rental.
The realtors would give me a day or so notice to come to inspect units, have an appraiser walk-through and buyer walkthrough, another walk-through with the realtor, a backup buyer walk-through, or anything else they said they needed. I would need to make myself available at the drop of a hat to cater to them. The original appraiser said he didn't anticipate any issues, everything was structurally sound, and all issues were disclosed.
I found out the conditions when they settled escrow ten days before they wanted escrow to close.
The realtors told us three days before closing that the buyers' financing was refusing to close without a second appraisal. We moved most of our belongings into one unit with boxes lining the walls in some of the rooms. Two days before closing the buyers came to "help" and offered to take all of our boxes to the dump for us and deduct the costs from escrow. They said the boxes defined the unit as storage, not living and were a health and safety violation. I told them there was no way I could get everything moved out before the scheduled appraisal the following day so we could close the day after. They said to take the weekend to get it done. I tried to find a storage space, but they were expensive and inconvenient and I didn't think it was reasonable to be forced to move everything out on so little notice when we were moving out entirely in just a month or so more. At the end of the weekend, the buyer's business partner called. I thought it was to let me know when the appraisal was scheduled, but when I said that the boxes were not being moved because they were not a hazard, they said alright but they wanted all the trash and recycling picked up from outside. I told them that the trash was in the cans and the recycling was bundled, they said they would reschedule for after the curbside pick-up. The day before that would be the realtors called saying they could avoid the appraisal inspection if they came and took pictures. I was out and had to drop everything and come back to walk them through the units. They called the next day and said the boxes weren't an issue, the dishes in my sink were. To which I lost my temper and said that I doubted it was a serious offer because the dishes in the sink of the unit my family was crammed into were not something they could make demands about. No one showed up for an appraisal inspection. I don't know if it was even scheduled. I heard nothing for a while. A week later my relative called and asked why I wasn't letting the escrow close. He said the realtors told him they had been trying to work with me, hired a trailer and people to help me move my stuff, (they sent a trash hauler who would take my stuff to the dump if I loaded it into his trailer), that I was refusing to comply as directed. I told him my side and he called them to discuss. They are showing up in the morning to help make sure the property is ready for an inspection. They are saying they will provide people to move our boxes out. They told my uncle they needed me to move my boxes out for the inspection, put them "somewhere else", then I could bring them back after. They are insisting I also clear out my onsite storage unit.
Our realtors have also refused to begin looking for a house for me until the sale is closed.
Is any of this legal? Can financing companies refuse to finance due to the condition of a currently occupied unit? Would they seriously change what was the issue so many times, (boxes, recycling, dishes, clutter)? Or is it just a ploy by our realtors or the buyer for some purpose I can't fathom?
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source https://www.reddit.com/r/RealEstate/comments/1i42et4/calibuyers_demands_lack_of_communication/
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