Signed the contract on a home!

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Posted by Stephanie621

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Posted by cets1290

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Posted by mrsj2014

I soooooooo feel your pain!!!!! we just signe contract then the seller decided to take if off the market b/c he had a change of heart even though he ows 160k on his house. And he didnt let his lawyer know so they still have our 5,000 check sitting at the lawyers office becuase he didnt call his lawyer to inform him of his plans to take it off the market. ughhhh

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if he broke the contract after signing, doesn't he owe you ALOT of $$$?

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I'm pretty sure you just get your deposit back and if you break the contract you lose your deposit. Or at least that's how it would have worked when FH and I bought our house a couple of months ago.

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oooo i thought that if both parties signed the contract and then the seller decided to break it, that they face serious legal action.. that is, unless there is a certain contingency allowing them to change their mind at the last minute.

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Posted by Stephanie621

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Posted by cets1290

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Posted by Stephanie621

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Posted by cets1290

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Posted by mrsj2014

I soooooooo feel your pain!!!!! we just signe contract then the seller decided to take if off the market b/c he had a change of heart even though he ows 160k on his house. And he didnt let his lawyer know so they still have our 5,000 check sitting at the lawyers office becuase he didnt call his lawyer to inform him of his plans to take it off the market. ughhhh

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if he broke the contract after signing, doesn't he owe you ALOT of $$$?

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I'm pretty sure you just get your deposit back and if you break the contract you lose your deposit. Or at least that's how it would have worked when FH and I bought our house a couple of months ago.

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oooo i thought that if both parties signed the contract and then the seller decided to break it, that they face serious legal action.. that is, unless there is a certain contingency allowing them to change their mind at the last minute.

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Yea I guess it depends on how it's written. I don't think a seller that was on the fence about selling would sign a contract penalizing them if they change their mind. My contract wasn't written that way but we also weren't worried about them not following through since it was an estate sale. A friend of mine lost out on a house that way though and only got his deposit back. There are so many stipulations in the contract it took longer to go over that than it took to close!

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Well what happened is he had his lawyer draw up contract than we had made revisions and we signed they looked at our revisions and said they wanted us to do an inspection before signing and we agreed so we went to set up an appt and he was kinda putting it off so I knew something was up.. Than he said he wants to try and save his house but unless he can come up with 160k he is facing forclosure. We do get our money back if he offically pulls the house off the market but he hasnt!! its like he wont sign but his lawyer is trying to tell him he doesnt have much of a choice. He cant save his house this is the best he is going to do since we went 10k over asking in a biddign war. its such a roller coaster so now we have to wait for a difinitave 'we are pulling it off the market' for us to get our escrow check back.. we are waiting to hear from the lawyer on new news today.

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Posted by mrsj2014

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Posted by Stephanie621

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Posted by cets1290

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Posted by Stephanie621

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Posted by cets1290

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Posted by mrsj2014

I soooooooo feel your pain!!!!! we just signe contract then the seller decided to take if off the market b/c he had a change of heart even though he ows 160k on his house. And he didnt let his lawyer know so they still have our 5,000 check sitting at the lawyers office becuase he didnt call his lawyer to inform him of his plans to take it off the market. ughhhh

---

if he broke the contract after signing, doesn't he owe you ALOT of $$$?

---

I'm pretty sure you just get your deposit back and if you break the contract you lose your deposit. Or at least that's how it would have worked when FH and I bought our house a couple of months ago.

---

oooo i thought that if both parties signed the contract and then the seller decided to break it, that they face serious legal action.. that is, unless there is a certain contingency allowing them to change their mind at the last minute.

---

Yea I guess it depends on how it's written. I don't think a seller that was on the fence about selling would sign a contract penalizing them if they change their mind. My contract wasn't written that way but we also weren't worried about them not following through since it was an estate sale. A friend of mine lost out on a house that way though and only got his deposit back. There are so many stipulations in the contract it took longer to go over that than it took to close!

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Well what happened is he had his lawyer draw up contract than we had made revisions and we signed they looked at our revisions and said they wanted us to do an inspection before signing and we agreed so we went to set up an appt and he was kinda putting it off so I knew something was up.. Than he said he wants to try and save his house but unless he can come up with 160k he is facing forclosure. We do get our money back if he offically pulls the house off the market but he hasnt!! its like he wont sign but his lawyer is trying to tell him he doesnt have much of a choice. He cant save his house this is the best he is going to do since we went 10k over asking in a biddign war. its such a roller coaster so now we have to wait for a difinitave 'we are pulling it off the market' for us to get our escrow check back.. we are waiting to hear from the lawyer on new news today.

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Oh wow that is terrible! Hopefully it all works out for you. If it's meant to be, it'll all work out