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  1. #21
    Missouri Star

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    Default Re: House Selling Angst

    Quote Originally Posted by Grey Lady View Post
    We sold our home in NJ two years ago. In NJ, as we and several friends discovered, hand money (earnest money) always gets returned and contracts are broken half the time. The reasons don't really matter. As sellers, you're on pins and needles until you close. But you will sell, and go onto a great new chapter.
    Thank you, Grey Lady. I guess we're in good company.
    Toni ... If I keep sewing long enough, will they make their own dinner?

  2. #22
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    Default Re: House Selling Angst

    Quote Originally Posted by jjkaiser View Post
    That giving the earnest money back sounded so fishy to me too. Now that the shock of the situation has settled in hopefully you and your family will enjoy one last Christmas there. Your house WILL sell and your kids will forgive you for moving. We sold our family home too, my daughters weren't very happy about it but now, 10 yrs later, they are all older, wiser-- they can see it was right for us. We planned on downsizing but wound up buying a house about 800 sq ft larger than the one we sold, but now I have my own sewing room!
    How fun to have your own sewing room! We definitely downsized, as we have already bought our new home. It's 2,000 square feet smaller and a bit of a fixer upper, but the fixing up has to wait until the other house sells. So no Christmas in my old house, as we're already 500 miles away and won't return until we have to pack.

    However, we chose this fixer wisely: There's room to build on a sewing room, and my hubby is 100% behind the idea!

    To EVERYONE: Thank you for your assurances that our house will sell. Negative-Nelly me, of course, can't see that right now, so I need all of you to remind me of it! And right now, I'm off to buy a new dishwasher because I can't live with the rust in the old one. I'll feel better then; shopping always cheers me up!
    Toni ... If I keep sewing long enough, will they make their own dinner?

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  4. #23
    Missouri Star

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    Default Re: House Selling Angst

    Here is something to think about. I assume you are paying the standard 6% commission to the real estate agent, half of which will go to her and half of which will go the buyers agent. Your real estate agent is supposed to be fighting tooth and nail to defend you. Do you think she did that in getting your earnest money back? If not, why in heck are you paying a 6% commission?????
    Stash Treasure Acquisitions Beyond Life Expectancy. My stash keeps me STABLE, oh yeah.... and dark chocolate.

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  6. #24
    The Guild President

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    Default Re: House Selling Angst

    If there had been an inspection, the buyers could have found something -- anything -- which they could use to back out of the sale. But having second thoughts about climbing stairs with arthritic joints seems like these buyers may be a brick or two short of a full pallet. As you said, it's not exactly a hidden defect. I wish these poor folks good luck finding their dream home and closing on it by the end of the year!

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  8. #25
    Missouri Star

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    Default Re: House Selling Angst

    @Denise: Yes, my mind has certainly wandered down that path!

    @MSN: Exactly my thoughts today when the pressure was gone from our realtor to sign the OK-we-understand, get-out-of-jail-free paperwork. I pored over the paragraph they used to back out, and it's only about defects, not about a change of heart.

    Here's my promise to you all: by the morning, I'll have put this aside and will pretend this heartbreak never happened. I've done my best staging the house, we've moved out so that everything stays gorgeous, and I'm just going to wait for the real buyer to come see the home.

    BUT IN THE MEANTIME, thank you all for your sweet support. It's been huge for me.
    Toni ... If I keep sewing long enough, will they make their own dinner?

  9. #26
    Missouri Star

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    Default Re: House Selling Angst

    having been a realtor for 20 years 20 years ago (almost) , I was surprised when we were looking at property at the coast and signed a contract. The realtor spent a lot of time telling us that the new contracts were written so that you could back out at any time during the due diligence phase for any reason...Earnest money returned. We did back out after the inspection and I know that the Realtor and the sellers were probably devastated. On the contract there was another space for a non-refundable fee. If I were a realtor here, I would demand a minimum of $5000 non refundable for anything that was not related to the disclosed items on the house. I truly felt that the seller should have had some compensation for the stress and removing the house from the market for several weeks. However, as a buyer, it sure takes the stress of making an offer off the table.
    So, my thoughts...next offer...even if you have to add an addendum...get a non-refundable deposit of several thousand for anything that is a personal choice. for instance...if they have a letter of credit stating they can borrow the money (no return) if the house meets the inspection based on what you have disclosed (no return) Not your (the sellers) fault, (no return) but, if the buyer finds there are things about the house you didn't tell them (termites), structural damage, flood zone, roof damage, electrical problems then you give them the money back.

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  11. #27
    Missouri Star

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    Default Re: House Selling Angst

    Terry, this is excellent advice. I plan on discussing this kind of thing with my realtor.

    Sadly, no one has even come to see the house since the deal fell through. sigh.
    Toni ... If I keep sewing long enough, will they make their own dinner?

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