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Message
Another contigency sale question
Posted on 8/8/16 at 8:11 pm
Posted on 8/8/16 at 8:11 pm
Friday afternoon I made an offer on a house already under a contingency contract. Received a counter offer Saturday afternoon and accepted.
The other buyers allegedly have 48 hours to drop the contingency which was supposed to expire at 8PM tonight. As of 8PM they haven't dropped the contingency, but my agent says they claimed they need until 9AM tomorrow because they didn't get the message until Sunday morning. My agent claims to have left a voice message Saturday afternoon and emailed the accepted offer (I presume to the seller's agent) but the other buyers or their agent apparently claim to have not received the email because of technical issues.
My question: what recourse do I have tomorrow morning before 9AM? I'm just angry on principle now regardless of whether they drop the contingency or not. Unless there's some verbiage in the contract that allows for these sorts of incidents or if this is common practice or whatever then so be it. But if that's not the case and if 48 hours means 48 hours means 48 hours, then their time is up as far as I'm concerned and they lost.
Or am I wrong?
The other buyers allegedly have 48 hours to drop the contingency which was supposed to expire at 8PM tonight. As of 8PM they haven't dropped the contingency, but my agent says they claimed they need until 9AM tomorrow because they didn't get the message until Sunday morning. My agent claims to have left a voice message Saturday afternoon and emailed the accepted offer (I presume to the seller's agent) but the other buyers or their agent apparently claim to have not received the email because of technical issues.
My question: what recourse do I have tomorrow morning before 9AM? I'm just angry on principle now regardless of whether they drop the contingency or not. Unless there's some verbiage in the contract that allows for these sorts of incidents or if this is common practice or whatever then so be it. But if that's not the case and if 48 hours means 48 hours means 48 hours, then their time is up as far as I'm concerned and they lost.
Or am I wrong?
3
Posted on 8/8/16 at 8:37 pm to Huey Lewis
You just said allegedly 48 hours. Have you seen the contract? 13 hours is hardly something to get upset about. Normally with a contingency, they aren't going to remove it that quick, chill
Posted on 8/8/16 at 8:51 pm to Huey Lewis
My guess is that if they haven't already removed the contingency, they prob won't be able to. A few extra hours isn't going to help them. I think you'll be good.
Posted on 8/9/16 at 1:26 pm to blueboxer1119
Ha, timelines in real estate don't mean squat. My last foreclosure I bought th bank moved the closure back 4 times for a total of 6 weeks for no reason at all. Just need to be patient but also know when you are being played, sometimes it's worth waiting other times it's not.
You were the one after all that made an offer on a property under contract. I'd guess they are trying to get offer 1 to sweeten their deal to stay with them.
You were the one after all that made an offer on a property under contract. I'd guess they are trying to get offer 1 to sweeten their deal to stay with them.
Posted on 8/9/16 at 2:52 pm to Huey Lewis
I have no idea if you are legally "wrong" or not. I believe in most legal proceedings time doesn't start until receipt is verified but real estate may be different.
You are talking about a period of 13 hours which was overnight on a weekend.
Not intended as a diss to you, but reading these two threads is why i HATE buying property. Hopefully I'll never have to buy again. Just too much of people using technicalities to get one over on someone else, or get out of a valid contract.
You are talking about a period of 13 hours which was overnight on a weekend.
Not intended as a diss to you, but reading these two threads is why i HATE buying property. Hopefully I'll never have to buy again. Just too much of people using technicalities to get one over on someone else, or get out of a valid contract.
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