need to vent-The deals on my houses are falling thru

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This topic is available here on forum.oes.org

I just need to vent...and this place is the safest place I know......as I had posted before we were to buy a house and 40 acres....well the lady that was to buy our hosue her deal fell thru....so our deal fell thru......but the people we are buying from will not sign the cancellation agreement and are talking to their lawyer.....bad part is we did not have a contingency in our offer.......we lose our earnest money but we should have the right to cancel.....I never in my life thought buying and selling was this bad....now I know why I have been in my house for 37 years

thanks for letting me vent.............

That really sucks!

I'm really sorry you have to deal with all of that because your buyer had problems. Even losing your earnest money is horrible! And you thought you had found your new house, but may have to find a new one? :evil:

I'm really sorry. Hopefully it will all work out some how. :plead:

I am very sorry this has happened to you.

You do not have the right to cancel unless it was in your Real Estate contract. Most people do put in the contingency saying the sale of the home depends another sale going through.
You may be stuck buying this house or in breech of contract and owing the sellers even more money.
Have you considered a bridge loan?

chip547 wrote:

Vent all you want ! That does suck and I can say that from experience .

When we were moving here to Tennessee all our deals seemed to fall through, the lady buying our home in Fl is a famous radio personality and she found out she was being sued by her old radio station and they froze all her accounts.

After she got that straightened out- hurricane 'William' hit the day of our closing and damaged her house she was closing on that morning...So the people buying her house had to wait till the insurance adjuster went and got that stuff figured out ...

A month later we were set for closing and surprise hurricane Rita hit !
No damage but every office closed for a week due to no electric. :roll:

Now another month goes by and guess what ....hurricane Katrina ! A lot of people don't realize Katrina did go through Fl also and since there was so much previous damage she made a mess in Fl before she became the worst disaster in history. (by the way can you see why I wanted out of fl....?)
(sorry ~may have messed up the hurricanes order and names,just so many to keep track of)

Anyway we lost our 1st deposit and house we picked (almost got taken to court also) and all our savings (and even had to sell my car).
But Thank God it all worked out in the end.... I love my home now , my husband got a good job and we are working on getting some savings put away again.

just thought I would share my story so you can see in the end it will all work out and probably better that you thought it could....

All is for a reason...

Antoinette

I would want to vent tooo~~~~~ That is so not right. I'm sure it will all work out just like it did for Antoinette......

I thought everyone puts down if your house sales in so many days/ months we would buy yours and if they sign that and your house does not go, everyone starts over, no money lost, just upsets because nothing worked out and held up homes that could have sold. I thought realitors would tell people about that.??

ej wrote:

That is a contingency and I'm surprised your realtor did not include this knowing your situation. Elissa's right, you may be better off taking out a bridge loan if it'll wind up costing you more in legal fees and other charges associated with breaking the contract.

ButtersStotch wrote:

ej wrote:

I agree!

I'm so sorry that happened to you!

Can you extend your contract giving you more time to purchase the new home and time to resell the current home? Also, the bridge loan idea is great.

Good luck fingers crossed here for a great outcome for you!

the buyer for our house was pre approved for the amount she needed to buy the house.....so we did not put in a contingency on selling ours.....which was a BIG mistake ....but hind sight doesn't help.....and we tried for a bridge loan....but the bank is not sure....because of the way things are selling .....it is very hard to get even regular loans...I just feel like I am chasing my tail..........

I have no advise, I just wanted to tell you I am sorry you are going through this. I hope things get worked out soon.

Hi,

I was really dismayed reading your post and wish I could offer some advice. I'm so sorry that happened to you and how awful the whole experience has been. I know you were looking forward to that new place too. You have my support and you know we're all here for you.

Marianne

Aw- I am hoping it all works out for you!

Real estate right now is tough. Our priest hasn't sold his home in Cleveland in a year!! I hope you don't have that hard a time!!! Anybody need a home in Cleveland?? :lol:

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