NBR: RANT!!!

Mule198513

I am so angry right now. I just need to vent and would love some advice. DH and I negotiated a price on a house and signed the binder this week. Our inspection was set for tomorrow morning. We just got a call that the buyer is going with a different offer. How is this possible? What the hell is the purpose of a binder if he can just walk away?! How am I suppose to confidently do this again and potentially waste money on an inspection if they can just oh what I changed my mind!!!!!!! I'm so livid.

mlebates

Isn't it illegal once they accept an offer to accept another offer? What did your realtor say?

Mule198513

Not much honestly she's a moron and our lawyer is aeay

tourqeyes

If you both signed something I would think they are not allowed to Do that. How much more was the other offer?

biglewzer

If they too signed contract, they're legally obligated or face penalties. We walked away from a sale and broke contract as buyers, so I'm no real help on the seller side. 

allardr

I'd think it's legal at that point you guys don't even get to walk away usually unless something comes up in the inspection is my understanding. And once you sign they have to take it off the market I believe. (obviously barring your lawyer/realtor made sure the contract was well written before you signed it, who knows maybe they put a clause in there)

abrazz

If you put down earnest money you will get that back. We came from the opposite side where a buyer backed out of the contract. They lost their earnest money and we got that.  They told us that one person in the marriage filed for divorce so that can get them out of the contract.  Buying and selling homes is so stressful.  I'm so sorry you are going through this especially if you loved the house.

gwulawbride

There is often a 7 or 10 day option period where you get your inspection, they take it off the market, and you get to make your final decision (though Ive never seen the seller walk away in that time period!), in case the inspection turns up something that the two parties can't agree to remedy in some way. I am not sure about what you signed, but it should have very clear clauses re what each party must do, cannot do, timing, etc. Read it and get a good real estate attorney if you feel like it is worth the money to try to hold onto the house. If not, maybe there is something better are around the corner. Literally. Maybe look around the neighborhood We looked at one house, liked it okay but then a week later an even better one came on the market the next street over. Fingers crossed it works that way for you.

Good luck and I hope the next time is not so stressful!