* There is a ratified contract on a "short sale" dated 9/9/2009. This is a new construction home.
* Seller's lender approved the short sale contract 9/29/09.
* Closing date was Oct. 22, 2009 with a 10 consecutive days extension clause.
* Contract called for home inspection by Oct. 8, 2009.
* Inspection could not be done because the house was not finished.
* Buyer obtaining an FHA loan & FHA final inspection could not be done on time because house was not finished.
* The closing date was not met because the house was not finished.
* Buyer did not like the "cheap" appliances provided by the builder, so she chose to put her own appliances in the house ---they were put in before the HUD inspection.
* Buyer had paid for the appliances -- dishwasher, micro-wave, stove, and refrigerator and they were placed in the house.
* The builder was taking so long to get everything done that the buyer decided that she didn't want the house anymore.
* On Nov 9, 2009, even though the contract closing date had passed, she still sent a release of contract.
* This release was responded to by a letter from the builder threatening to sue the buyer.
* After much discussion with agent and Broker, buyer decided to go ahead with the closing because builder said it could close on Monday, Nov. 16, 2009.
* On Saturday, Nov. 14, 2009, buyer's agent went to the home
to meet a home inspector -- the HUD inspection had been completed on Thursday, Nov. 12, 2009 -- when the buyer's agent showed up, there were policemen everywhere and the builder was there. The home had been robbed of all the appliances.
* Remember who the appliances belong to? Yes, the buyer.
* Now, the buyer is freaking out and is refusing to close.
* No addendum was ever done to extend the closing date.
Does the buyer have a contract or not? What do you say?
Co-founder of AgentOwned Realty
The AgentOwned Realty serves your real estate needs for:
Isle of Palms, Sullivan's Island, Daniel Island, North Charleston,
Summerville,Goose Creek, Moncks Corner, Santee, Manning, Sumter, Florence, & Myrtle Beach, all in South Carolina
Copyright © 2009 By Liz Loadholt, All Rights Reserved. This post may be re-blogged only with a link back to this post.*Is It A Contract?*