What is the name of your state? Utah
I have a contract to sell my home; in the offer the buyer declined all the contingencies. I thought that odd, but the buyer is a realtor and the offer was a bit low so I thought he knew what he was getting into. My realtor said he felt like it was a solid deal.
Now a week after signing the contract they have come back to us and want big concessions for things like putting a pitched roof on (the existing roof is flat but new and it does not leak); replacing the carpeting because we had a dog and their child has sever allergies (most of the carpeting in the house is new, after we moved out, some is older but we had it professionally cleaned); and putting a new railing on the deck (the old one probably does not meet current code, but it was in plain site when they saw the house before offering).
I said no, there was no basis for this as there were no contingencies. My realtor tells me that technically I am probably right but getting their earnest money will be hard.
The buyer is a real estate agent who works for a broker. The offer was made through the broker he works for. The office is part of a nationally recognized chain. In the original offer the buyer offered a $1000 earnest money deposit, in my counter I asked for $5000 and the buyer accepted this. My realtor now tells me he is not sure the full $5000 was ever deposited, and the deposit is with the buyer’s broker now anyway.
Is it worthwhile for me to pursue this, or is it best just to let the thing go and put the house back on the market? Do I have any case for specific performance? Who would I go after to get the $5000 in earnest money and what would be the best way to go with it. I have discussed this with my realtor and he is still trying to convince the buyer to go through with the contract. I would be happy with that outcome, but I think it is not likely to happen at this point.
Any advice would be appreciated.
I have a contract to sell my home; in the offer the buyer declined all the contingencies. I thought that odd, but the buyer is a realtor and the offer was a bit low so I thought he knew what he was getting into. My realtor said he felt like it was a solid deal.
Now a week after signing the contract they have come back to us and want big concessions for things like putting a pitched roof on (the existing roof is flat but new and it does not leak); replacing the carpeting because we had a dog and their child has sever allergies (most of the carpeting in the house is new, after we moved out, some is older but we had it professionally cleaned); and putting a new railing on the deck (the old one probably does not meet current code, but it was in plain site when they saw the house before offering).
I said no, there was no basis for this as there were no contingencies. My realtor tells me that technically I am probably right but getting their earnest money will be hard.
The buyer is a real estate agent who works for a broker. The offer was made through the broker he works for. The office is part of a nationally recognized chain. In the original offer the buyer offered a $1000 earnest money deposit, in my counter I asked for $5000 and the buyer accepted this. My realtor now tells me he is not sure the full $5000 was ever deposited, and the deposit is with the buyer’s broker now anyway.
Is it worthwhile for me to pursue this, or is it best just to let the thing go and put the house back on the market? Do I have any case for specific performance? Who would I go after to get the $5000 in earnest money and what would be the best way to go with it. I have discussed this with my realtor and he is still trying to convince the buyer to go through with the contract. I would be happy with that outcome, but I think it is not likely to happen at this point.
Any advice would be appreciated.