Why is buying a house such a pain? Lawyers get in here.

Here is my story.

I'm ready to buy a house. I made a full price offer for a nice home. The seller signed and agrees to sell. My loan is preapproved and the process starts. The seller says he has lost his job and can not sell.

OK I go house hunting again. After looking at 3 houses, my agents tells me that the seller has secure his job and is willing to sell. My agents ask me if I still would like buy it. I said I would.

Inspector comes to house with me and we begin to inspect the house. The sellers are home and asked to talk to me. Ok we sat. He said he wanted to tell me that he could lose his job and could not afford to move to a different location. He said I (buyer) should
back out of the deal and he would pay me for all my expenses.
He also said my agent has threaten to file a lawsuit for her commissions if he backs out.

What would you do?

1. Back out.
2. Go forward and purchase the house anyways.
3. Take the money and get sued.

Well you have nothing to lose when you really want this house.
If you say you want it and the seller backs out he has to pay up ...
If you would back out he would also have to pay, only this time he will pay you because you backed out.... and what kind of guarantee do you have a guy who will probably lose his job again is going to pay you a lot of money ?? none, so if you want the house just go for it... there`s only to gain from saying yes

Back out, seriously. Don't put yourself in the middle of a whole drama minefield, especially in terms of something major like buying real estate. There's always going to be another house on the market that catches your eye, and one without all the problems attached to this one. Sounds like the seller really doesn't know what he wants to do - I'd drop the whole situation like a hot potato and move on to looking at other houses. Better safe than sorry in a situation like this.

Is this deal officially in Escrow?
Have you signed docs already? how about the seller?
has he signed docs already?
If not, you are not entitled to buy it.
After you signed docs, then you are comitted, they give
you something call, "recission time" in that time you can opt
to cancel or stay with it....

But if this thing is not in escrow yet and you haven't sign
papers. Just cancel it and look for a better realtor and
house.

wjw123 said:

Here is my story.

I'm ready to buy a house. I made a full price offer for a nice home. The seller signed and agrees to sell. My loan is preapproved and the process starts. The seller says he has lost his job and can not sell.

OK I go house hunting again. After looking at 3 houses, my agents tells me that the seller has secure his job and is willing to sell. My agents ask me if I still would like buy it. I said I would.

Inspector comes to house with me and we begin to inspect the house. The sellers are home and asked to talk to me. Ok we sat. He said he wanted to tell me that he could lose his job and could not afford to move to a different location. He said I (buyer) should
back out of the deal and he would pay me for all my expenses.
He also said my agent has threaten to file a lawsuit for her commissions if he backs out.

What would you do?

1. Back out.
2. Go forward and purchase the house anyways.
3. Take the money and get sued.

Click to expand...

Seriously get the hell out of this drama.

Your realtor is probably correct in what they are doing.
My guess is this guys listing contract will be up soon, and he has been going around behind the realtor's back negotiating another sale and trying to avoid the commission.
I can almost guarrantee if you back out he will try to turn it around and blame it all on you. I would also tell you the house would probably be sold to someone else within a month.

If you have put down Earnest Money and he gets you to say you are backing out he has a legal right to keep that money and there isn't much you could do.

My advice don't talk to this guy without your realtor present.
In fact you don't have to talk to him at all, the whole process can be done with out the seller or the buyer ever meeting that is what realtors are for.

I am a realtor and from what you have said it sounds like this guy knows the laws and loopholes and you don't. To keep from being scammed or otherwise just do the talking through your realtor.
This will make him give up on any shady things he is trying to pull, it will also keep you safe and legal.

wizdum said:

Your realtor is probably correct in what they are doing.
My guess is this guys listing contract will be up soon, and he has been going around behind the realtor's back negotiating another sale and trying to avoid the commission.
I can almost guarrantee if you back out he will try to turn it around and blame it all on you. I would also tell you the house would probably be sold to someone else within a month.

If you have put down Earnest Money and he gets you to say you are backing out he has a legal right to keep that money and there isn't much you could do.

My advice don't talk to this guy without your realtor present.
In fact you don't have to talk to him at all, the whole process can be done with out the seller or the buyer ever meeting that is what realtors are for.

I am a realtor and from what you have said it sounds like this guy knows the laws and loopholes and you don't. To keep from being scammed or otherwise just do the talking through your realtor.
This will make him give up on any shady things he is trying to pull, it will also keep you safe and legal.

Click to expand...

Thanks for the advice! I told my realtor what he tried to do and all is well for now. I feel this guy have not intention to sell from the get go or trying do something shady. It's in escrow for two weeks and should close on 10/13/03.

He signed the agreement and still called me asking about the closing date, so he can packed. Why do people act stupid like this?

When writing an offer on a house always include a clause that sets a daily compensation if they don't move out on time.
You would be suprised how on time people will be if they have to pay $100 a day to stay late.

I still recomend only communicating with this guy through your realtor. It is alot easier to say no to an unreasonable request if you don't even have to speak to him.