Thread: So the deal fell thru on my house...weeks ago and no one told me

Over a month ago I got an offer on my house. The buyers were absolute JERKS but we finally came to terms. They had a pre approval letter from their lender and my realtor went as far as talking to the lender to double check. Then they were jerking me around on small stuff that they wanted fixed. They wanted ALL NEW innards for every toilet even though they were less than 5 yrs old and none of them were leaking. They wanted this and that and then told me that if I didnt have the stuff fixed they would walk. So yeah, I fixed it ALL! The house appraised at what we needed it to and we were on our way with a closing date of the 22nd. I had found my absolute DREAM HOUSE and my offer was accepted and the people selling the house were leaving me a ton of stuff and the home inspection came back BEAUTIFULLY. I un-enrolled my DS from his school and enrolled him in the other. Here I was packing away when suddenly I get a call from my realtor who told me that she had found out thru the mortgage company that the buyers didnt get the loan approved. Turns out they have known for weeks but never told my realtor or lawyer. Today I get the cancellation agreement where I have to sign off so they get their earnest money back and it was signed by them Dec 7th!!!! I (and my realtor) just found out yesterday about it not going thru. I am SUPER PISSED beyond belief!!!! But according to my lawyer, because there was a mortgage contingency, I have to sign off. I really wish sellers had as much protection as buyers! GRRRRR

That just sucks! Why do you have to sign? I would refuse. What would the ramifications be if you don't sign? There is a delay in them getting the money? Geesh. Keep in mind that your realtor is in reality working for the buyers...even if they have their own realtor. It is the successful sale upon which they earn their money!!

Stinks, sorry this happened to you....

I havent signed just yet but the lawyer told me that if I dont they can sue me. Its only $1500 any way. But I am holding off until the last possible minute. They do not get their money back until I sign this piece of paper. I know its kind of crappy of me because the money is rightfully theirs but its the principle of it all! I just had to sign the cancellation of the buy/sell agreement on the other house! I could have been a jerk there too because the agreement says I have until next week to let them know but I dont want them to lose out on the sale of their house. They had multiple offers on the house but went with mine. They were so incredibly nice so I dont want to screw them over. GRRRR This makes me so mad!
I did have 3 showings today but havent heard anything. One couple was here for over 45 mins so thats a good sign (but am told they have a house to sell first so even if they make an offer, it would have a contingency and we couldnt close right away). I stalk them by sitting at my neighbors house and watch! LOL

Darn, that really sucked. I hope everything comes together for you soon.

Karma has a funny way of biting ppl in the butt... they will get whats coming to them, one way or another... I'm sorry you have to deal with this. Hopefully you can find another house where your son is enrolled in school now and SOON!!!

Originally Posted by freeby4me

Is it possible back when they got denied that they were re-trying through them or even someone else to somehow get the mortgage to go through?
Fifteen hundred is a lot of money to put down on something and all the upgrades for a house that wont even be theirs, kwim.

No, they were not trying to get a loan from any other lender.

I thought when ernest money was put down that was the sellers just incase something like this did happen? The reason for it is because the house is off the market for that amount of time and to prevent anyone else from buying it. We sold a condo and the man did change his mind but when he asked if we would return his deposit and we said no, it was a large amount, he went through with the buy.