Sq. Ft.

[bad credit`]

What is the name of your state? TX

I recently signed a contract on a home, including earnest monies, three seperate inspections, and appraisal.

The house listed for $219,000.00

My cost for these items is approx 1800.00, after the appraisal was complete there was a discrepency of 100 sq. ft. the house appraised for $7,000.00 less than the asking price ($212,000.00) . the square footage was included in the disclosure not as an approx. or based on tax appraisal.

The difference in the sq. ft. equates to $10,000.00 once this was revealed to the seller they agreed to sell the house for 1,000.00 over apraisal ($213,000.00) not to pay for title insurance, no warrranty, and to stay in the house 7 days after closing.

After a week of negotiating back and forth I agreed to the verbal terms as the seller requested.

The amendments werre typed up, and signed by me. Once it was recievced by the seller.
They rejected their own terms and stated they wanted the orginal asking price of $219,000.00. All of the transactions were between the seller the two agents and myself.

The seller requested a copy of every survey (that I paid) and I provided.

The mortage company will not finance the deal. Can I get my expenses out of this deal?
Is the verbal comitment from the seller solid?

What is my next move?

Thank you.

 

[seniorjudge]

What is the name of your state? TX

I recently signed a contract on a home, including earnest monies, three seperate inspections, and appraisal.

The house listed for $219,000.00

My cost for these items is approx 1800.00, after the appraisal was complete there was a discrepency of 100 sq. ft. the house appraised for $7,000.00 less than the asking price ($212,000.00) . the square footage was included in the disclosure not as an approx. or based on tax appraisal.

The difference in the sq. ft. equates to $10,000.00 once this was revealed to the seller they agreed to sell the house for 1,000.00 over apraisal ($213,000.00) not to pay for title insurance, no warrranty, and to stay in the house 7 days after closing.

After a week of negotiating back and forth I agreed to the verbal terms as the seller requested.

The amendments werre typed up, and signed by me. Once it was recievced by the seller.
They rejected their own terms and stated they wanted the orginal asking price of $219,000.00. All of the transactions were between the seller the two agents and myself.

The seller requested a copy of every survey (that I paid) and I provided.

The mortage company will not finance the deal. Can I get my expenses out of this deal?
Is the verbal comitment from the seller solid?

What is my next move?

Thank you.

Q: Can I get my expenses out of this deal?

A: Do you have a written agreement that would allow this? If not, then you won't get any expenses.


Q: Is the verbal comitment from the seller solid?

A: No.

 

[bad credit`]

Sq. Ftage

The whole purpose of my agrument is that the written contract was not correct. The facts are that the contract stated an additonal 100 sq. feet more than what the mortage appraisal and the county tax records indicated. The owner stated the property was more than what was actual. If the information is incorrect than the owner is in breach of contract not I. Hence his misrepresentation is what caused the problems with the sell of the house. The information that supports this is all documented.

 

[nextwife]

I have had my home appraised twice. The village building inspection record of Sq footage does not match that of my first appraisal, nor does that appraisal match my second appraisal done for a refi. Oh yeah, my homeowner's insurance company came up with yet a different Sq Ft calculation. The exact sq footage is up in the air - and fairly irrelevant as to the desirablity of my home and neighborhood.

Unless you included a clause that they had to adjust the price if it underappraised, the sellers were not obligated to do so. The sellers have the right to sit on the market, otherwise, and wait to szee if they can get more. You offered them the "out" of the contract.