House Contract Question

[Maikeru-sama]

mick, I'm just messing around

Yeah I know, it's all good.

 

[Yeagermeister]

I live in the 'hood son

bustin caps in dat ***

With your Mom

 

[Faerluna]

With your Mom

http://i33.***BLOCKED***/albums/d57/Faerluna/ohsnap6ts.gif

 

[Maikeru-sama]

Im finding out that Real Estate Lawyers are not cheap.

To litigate my case, most want $2500 down and $250 per hour (I wonder how much of that is pure profit).

I already know I will not pursue the matter through the courts because it is not worth that much money.

Unfortunately, the seller probably knows that too but we will see.

My Real Estate Agent said he has been through this one time when he was represented the a seller. He said the Seller in our case will probably stop returning the phone calls of their Real Estate Agent and hope we go away.

My Real Estate Agent is now getting in touch with the Title Company and letting them know what is going on and they will call the Seller as well as their Real Estate Agent, to put pressure on them and let them know what the potential problems could be if they try to terminate the contract.

What I am worried about is if they don't want to sell, I cannot sign on closing on July 1st because I need to do a final workthrough and the seller's will definately not let me do that.

 

[Duane]

Just to let you know Mick your threads have been very helpful. I'm going to be buying in the next year to year and a half and am gaining a lot of insight from these threads.

 

[Maikeru-sama]

Just to let you know Mick your threads have been very helpful. I'm going to be buying in the next year to year and a half and am gaining a lot of insight from these threads.

Tell Bob that :laugh2: .

 

[Maikeru-sama]

Seller's wife has now taken charge, bypassing her real estate agent and is emailing me and all parties involved directly.

Yesterday, via email, she sent me the amended contract stating that they were terminating the deal.

Also, they have now changed their mind. Last Friday, he said he would give me ALL the money I have spent (House inspection, Termite Inspection etc etc), now the terminated contract says they are just going to give me my earnest money back, which that was my money anyway .

 

[WoodysGirl]

Seller's wife has now taken charge, bypassing her real estate agent and is emailing me and all parties involved directly.

Yesterday, via email, she sent me the amended contract stating that they were terminating the deal.

Also, they have now changed their mind. Last Friday, he said he would give me ALL the money I have spent (House inspection, Termite Inspection etc etc), now the terminated contract says they are just going to give me my earnest money back, which that was my money anyway .

So how badly do you want the house? If you really want it, then I say force the issue and refuse to terminate.

If you do decide to move on, then I'd make them pay out the nose for it.

 

[Maikeru-sama]

So how badly do you want the house? If you really want it, then I say force the issue and refuse to terminate.

If you do decide to move on, then I'd make them pay out the nose for it.

Yeah, they are really starting to annoy me. Unfortunately, Real Estate Lawyers are not cheap and im sure the Seller knows this.

If she sends me another email directly, I will tell her to cease all email correspondence with me and to talk to my Real Estate Agent.

The problem is, we all know that after you do something the 1st time, it is easier to do it the second time. Im going to make sure they don't try to pull this same crap on somebody else.

The Real Estate Lawyer I spoke to yesterday was just as confused as everyone else as to why he doesn't want to sell.

It is because he is lying about losing his job, his wife doesn't want the house.

 

[WoodysGirl]

Yeah, they are really starting to annoy me. Unfortunately, Real Estate Lawyers are not cheap and im sure the Seller knows this.

If she sends me another email directly, I will tell her to cease all email correspondence with me and to talk to my Real Estate Agent.

The problem is, we all know that after you do something the 1st time, it is easier to do it the second time. Im going to make sure they don't try to pull this same crap on somebody else.

The Real Estate Lawyer I spoke to yesterday was just as confused as everyone else as to why he doesn't want to sell.

It is because he is lying about losing his job, his wife doesn't want the house.

That's what it sounds like to me.

Like I said, it really does depend on how badly you want the house.

I wouldn't correspond or communicate with her anymore directly unless you receive notice that she's terminated her real estate agent. You don't want to get locked into anything you say or write while you guys haggle it out.

I'd also make it clear that if they want out of the house, it'll be for more than just the earnest money and the inspection fees you've already shelled out.

I'm no expert by any means, just saying you have to decide how you want to go forward.

And it's either the seller has to move or they pay a penalty for your losses.

 

[Maikeru-sama]

I agree WG.

They are out of their minds if they think they are getting out of this with just paying $355 or just giving me my earnest money back.

I want the house, but probably not bad enough to pay all the expenses to litigate it. I want to put the maximum pressure on the seller without spending any of my money. Because I have to remember, if we litigate, I will not be able to put a contract out on another house of the "N" number of months it takes to get this over with.

My Homeowner's Insurance Agent just called me. He said he was out at the property Friday and was doing his job and taking pictures and the Seller and his wife opened up the door and was just staring at him.

This is a really bizarre situation.

 

[theogt]

Bizarre indeed. Don't let 'em screw you. If you're in the Dallas area, maybe pep can find you someone more reasonable. I don't think you need a "real estate lawyer" per se. Any lawyer should be able to handle this.

 

[Maikeru-sama]

I have been told that the Sellers have ceased all contact with their Real Estate Agent and Broker and will be handling all matters themselves.

In response to their email to me and all parties involved, here is the email I sent to them.

Dear Mr. and Mrs. ######, we have a legally binding contract set for July 1st. I wish to proceed on closing of my new home as set forth in the contract between us. Please let me know that you are in agreement that we will proceed with the contract as stated. In addition let me know if you do not wish to proceed with the contract, so I can contact my attorney and sue you for specific performance, which will include me being able purchase the property and receive court cost and attorney fees from you.


Thank You

 

[Bob Sacamano]

you want me to get involved, mick? just give me the word, I'll break their legs

 

[Maikeru-sama]

you want me to get involved, mick? just give me the word, I'll break their legs

I dont know bob, the Seller's wife seems pretty fearsome :laugh2: .

 

[Bob Sacamano]

I dont know bob, the Seller's wife seems pretty fearsome :laugh2: .

I'm used to fighting off chicks though

 

[Yeagermeister]

I'm used to fighting off chicks though

Fighting for the last slice of pizza doesn't count.

 

[peplaw06]

Im finding out that Real Estate Lawyers are not cheap.

To litigate my case, most want $2500 down and $250 per hour (I wonder how much of that is pure profit).

I already know I will not pursue the matter through the courts because it is not worth that much money.

Unfortunately, the seller probably knows that too but we will see.

My Real Estate Agent said he has been through this one time when he was represented the a seller. He said the Seller in our case will probably stop returning the phone calls of their Real Estate Agent and hope we go away.

My Real Estate Agent is now getting in touch with the Title Company and letting them know what is going on and they will call the Seller as well as their Real Estate Agent, to put pressure on them and let them know what the potential problems could be if they try to terminate the contract.

What I am worried about is if they don't want to sell, I cannot sign on closing on July 1st because I need to do a final workthrough and the seller's will definately not let me do that.

Bizarre indeed. Don't let 'em screw you. If you're in the Dallas area, maybe pep can find you someone more reasonable. I don't think you need a "real estate lawyer" per se. Any lawyer should be able to handle this.

Unfortunately, I doubt you're going to find someone who will handle it cheaper than a retainer of $2500. I'm a newb attorney, and my retainers are probably averaging right below that.

Tell you what you might do, Mike...

File pro se. The filing of the suit and service on them alone may scare em enough to give in. Then if that doesn't work and you still want to go through with it, then hire an attorney.

If you could get out of it with the filing fees and fee for serving them, it might be worth it to you. If you have to hire someone after that, it doesn't really hurt you that you've already filed.

Another thing that may help you make your decision. If you really have a slam dunk breach of contract case (and a real estate lawyer would know more than I would), you should be able to get attorney's fees. Not that it helps you now, but if you can get a loan for the retainer or put it on a credit card, etc., knowing there's a high probability that you'll get it on the back end, then it may seem like less of a hit now.

Again, I'm not completely sure how it would work, since I don't do real estate. But if you sue for specific performance and a Court decides in your favor, they may say you pay x amount minus what you're out for the lawsuit.

 

[Jon88]

"Dear Mr. and Mrs. ######, we have a legally binding contract set for July 1st. I wish to proceed on closing of my new home as set forth in the contract between us. Please let me know that you are in agreement that we will proceed with the contract as stated. In addition let me know if you do not wish to proceed with the contract, so I can contact my attorney and sue you for specific performance, which will include me being able purchase the property and receive court cost and attorney fees from you.


Thank You"

:laugh2:

I liked that part.

 

[Maikeru-sama]

Not to be histronic, but the majority of the day was one of the worst of my life. Mainly because I spoke with several attorneys (litigators and non-litagotors) and they all told me the risk that I would taking to litigate the case. What also sucked is that I had a meeting today with a bunch of big whigs at work and im pretty sure my bad attitude showed .

Now, the good news.

My Real Estate Agent is back from Indy and he called me about a property in the same city and near the house we are currently disputing. I told him that I had not seen any house in our price range. He told me to filter on realtor.com by 5,000 more and sure enough the house he was talking about came up. I just came back from the place and it is very nice. The house has been on the market for about 15 days and already they have dropped the price by 10,000. The Listing Agent said the sellers had to move out of town and are VERY motivated to sell. As we were leaving the listing agent called us back and said she wanted to give us her fax number at home just in case we wanted to send an offer tonight. Practically everything I had to do to the house we are disputing (paint, appliances etc etc) I don't have to do to this house. So if we can get it near the price we were going to pay for the other house, it would be a still.

The only problem is that the back of the house is on a somewhat busy street. If you are ever on a busy street and you see those long tall brick walls that run the length of the street that hide the houses, that is what this property looks like.

So we will definately be asking for ALL my money back that I spent on this house and view this new development as a blessing from the man up stairs (don't ban me for religious talk) and go on about our business.

Im gonna keep my fingers crossed on this new property. The great thing about it is all the research I did for utilities, security, HOA fees etc etc are all relevant because this place is near the other place.

I'll keep you guys posted.