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Started By
Message
re: Backing out of Purchase Agreement
Posted on 5/27/15 at 3:48 pm to LNCHBOX
Posted on 5/27/15 at 3:48 pm to LNCHBOX
You're missing the point.
The PA, which contains the responsibilities and expectations for both parties were given to both parties and signed. Signing by the buyers is acceptance of every small detail in that contract.
It's black and white.
The reason I'm debating it is due to the fact that the buyers will not provide me a copy of the inspection and refuse to willingly give up the deposit.
My agent is telling me that they are refusing to cough up the inspection because it indicates nothing wrong with the house (realtors talk I guess).
I'm surprised how many people disregard a broken contract.
There is no "barely broken". It was either broken or not. In this case it was broken.
Thanks for the advice though.
The PA, which contains the responsibilities and expectations for both parties were given to both parties and signed. Signing by the buyers is acceptance of every small detail in that contract.
It's black and white.
The reason I'm debating it is due to the fact that the buyers will not provide me a copy of the inspection and refuse to willingly give up the deposit.
My agent is telling me that they are refusing to cough up the inspection because it indicates nothing wrong with the house (realtors talk I guess).
I'm surprised how many people disregard a broken contract.
There is no "barely broken". It was either broken or not. In this case it was broken.
Thanks for the advice though.
This post was edited on 5/27/15 at 3:50 pm
Posted on 5/27/15 at 3:57 pm to blueboxer1119
quote:
You're missing the point.
No, clearly you are.
quote:
The PA, which contains the responsibilities and expectations for both parties were given to both parties and signed. Signing by the buyers is acceptance of every small detail in that contract.
It's black and white.
No shite.
quote:
buyers will not provide me a copy of the inspection
Did you pay for it? Why should they? I bet that isn't in your contract.
quote:
refuse to willingly give up the deposit
Do they even have it? Shouldn't it be in escrow?
quote:
My agent is telling me that they are refusing to cough up the inspection because it indicates nothing wrong with the house (realtors talk I guess).
Or maybe it's because there is no reason for them to pay hundreds of dollars for an inspection and then give it to you? Why don't you get your own if you think it says nothing?
quote:
I'm surprised how many people disregard a broken contract.
Most people here aren't assholes over a small detail trying to weasel money out of people.
quote:
There is no "barely broken". It was either broken or not. In this case it was broken.
Barely.
quote:
Thanks for the advice though.
Whatever helps you sleep at night. You're an a-hole apparently. It's OK. Just don't sit here and expect us to fellate you and you assholishness.
Posted on 5/27/15 at 3:59 pm to blueboxer1119
I'm surprised how many people disregard a broken contract.
There is no "barely broken". It was either broken or not. In this case it was broken.
Thanks for the advice though.
----------------------------------------------
Frustrating I know!
Kick the dog, get a beer and go scream outside. Then get another beer.
The inspection report will indicate some things wrong, even if it's a dripping faucet. The buyer basically has an escape/weasel clause here.
Sorry that happened to you but another buyer will be along.
Posted on 5/27/15 at 4:11 pm to blueboxer1119
quote:
I'm surprised how many people disregard a broken contract.
The spirit of the contract was not broken. They notified you via your agent that they were exercising their right to walk away within the alloted time frame. You didn't suffer anything. You knew.
They don't have to give you the report. Besides, you don't want it... if it does show something, now you know and have to legally disclose it to the next buyer.
I'm telling you, what happened was your buyer told his/her agent that they were going to exercise the out clause, and their agent said "OK, I'll handle it" and contacted your agent. Your agent did not require it to be in writing.
The buyer's agent and your agent "failed", if anyone did. If anything, fire your agent and contact the broker of the buyer's agent and complain, and if you are really mad enough, contact the state licensing board.
BTW, where is the deposit currently being held? My guess is, you would be able to keep it, because of that "black and white" you mention. And if your agent is worth a damn, it's either at his brokerage or it's at an escrow company. The fact that they "refuse to willingly give up the deposit" is moot since, they don't have the deposit.
To recap:
What I would do: return the deposit and move on.
What is acceptable to do: keep the deposit and move on
What is being a prick: keep the deposit and file a lawsuit
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