Debbie Albert, PA
Coldwell Banker Residential
Here in Arizona, if a contract is breached the breachee is served a "Cure Period Notice" that basically gives them a mini-extension to "cure" the breach.
But if you're being told it won't happen until end of July than it seems unlikely you fall into this category.
That being said, I can understand your frustration with the situation. However, is this really something that you want to pass on if the repairs will be made? You could ask for some consession from the seller for the inconvienance and delay.
Also, if the agent is treating you in this manner, I would contact her broker and voice your concerns. Another agent could be assigned to you so that you have someone working in your best interest.
This situation is one that needs to be reviewed by the Title company who has your transaction in escrow. They will review the contract, addendum and determine whether you are entitled to have your Earnest Money returned.
Best of Luck,
I would consider this a bit differently.
Even if you could walk away from this house and get all of your earnest money back is the loss of 3 weeks buying time worth walking away? I know it is an inconvenience. It is annoying. But is it worth having to find another house, take perhaps months more to find what you want to avoid a few weeks of waiting?
A contract is written with final dates for things to be done. If those dates pass and the contract is not completed the contract is no longer in force. You could choose to extend it or not.
p.s. "Just tell me if you don't want the house because I will sell it out from under you in a minute. I don't have time for this." Sounds to me like a hard sell push. You had the best (perhaps only?) offer. That means they are trying to make you feel that staying with the property is the only way not to lose it. There is no guarantee that there are ANY other offers on the table.
Do you want this car? I have 3 other buyers interested but if you buy right now I can get you this beauty for only... It sounds like the same kind of sales pitch... total b.s.
I want to say thanks to both of you for your advice. I don't have a lawyer - in Montana, it is not required and I rea;;y can't afford to retain one since all my savings is going for the earnest money and closing costs. Thanks anyway.
You're asking for a legal opinion. We're not lawyers. We can't give legal opinions.
Nor are we your Realtor and thus we don't have access to your paperwork. So we can't advise you on that.
OK, OK. I agree that based on what you presented it sounds as if the seller may not have lived up to the contract. But you say the seller "agreed unconditionally." Really? That's an awfully broad statement. It's language like that that scares us off.
Can you get your earnest money back? Maybe. Usually--depending on your paperwork which none of us has--it requires the approval of both the buyer and seller. In other words, the seller must agree to the release and return of your earnest money (if the provisions in your contract are standard . . . but we don't know if they are.)
Your Realtor would be the person to consult, since he/she has access to all your paperwork.