Home Selling in 75034>Question Details

Get, Home Seller in Dallas County, TX

If a buyer does not show up to closing, when can I relist the house?

Asked by Get, Dallas County, TX Tue Apr 19, 2011

If a buyer does not show up to closing, when can I relist the house? I've extended option dates, closing dates, accepted late option and earnest money payment, etc. buyer requested to extend closing date a week ago and i said No but they are ignoring me.

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It will depend on when your EM Contract date expires. If it (and all the extensions) have expired, you should be able to place the home back on the market now. If not, you will have to wait until it expires out. As for the Earnest Money, Patrick is correct, buyer will have to normally sign a release of Earnest Money. A demand letter can be sent to buyer and if they do not contest, normally Title Company will release it to the requested party. Title Company can help you (and sometimes will do it for you) send the Demand Letter. If it was a non-refundable Earnest Money situation, check with the Title Company on whether a demand letter still needs to be sent.

Hope this helps.
2 votes Thank Flag Link Tue Apr 19, 2011
The buyer will usually need to sign a release of earnest money for the tile company. If there is a dispute over the earnest money you need to see a real estate attorney. The property cannot be relisted until any dispute is settled. Ask your title company to send the buyer a request for the release of earnest money. Make sure it goes to the address for notifications listed in the contract.

Good Luck!
1 vote Thank Flag Link Tue Apr 19, 2011
Get with your realtor....they will help advise you on the best course of action.

You may need them to sign a termination agreement or to send them one.
0 votes Thank Flag Link Wed Apr 20, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Get,

DO NOT......consider relisting it until you are absolutely clear that you can do so without creating additional problems. Don't make a bad situation worst.....

This is not intended to be legal advice but it would seem that the property should remain off the market until the buyer has signed the escrow release documents. Other wise you could be selling the property twice, opening a whole other "can of worms."

Bill
0 votes Thank Flag Link Tue Apr 19, 2011
We've handled this two ways.

If they are saying that they need a few more days to close because of their lender, we have requested that they do a prequal with a lender that WE trust. If your lender says that there is no problem, then it will most likely take way less time to get them closed than it will to give them a few more days (even 2 weeks) than it will to find a new buyer and get them through the closing process.
If your lender says no or they won't let talk to him, big red flag.

Where is your agent on this?
Or your title company? They should be on top of this.
If you don't have these things and you need a good real estate attorney call Bob Wilson at Lawyer's title.
Phone 214-637-2702

If you don't have a realtor and you just need some questions answered feel free to call my office.
Sheila Goff 214-908-5878
Web Reference: http://www.sheilagoff.com
0 votes Thank Flag Link Tue Apr 19, 2011
Get - get to an attorney - one that specializes in real estate!
0 votes Thank Flag Link Tue Apr 19, 2011
The first thing you need to know is you will not be able to go under contract with another buyer until you settle the issue of Earnest Money. If you try keeping their EM, they will undoubtedly contest it and keep you tied up and unable to sell. If the amount of EM is $5000 or under, you could end up in small claims court trying to settle the issue. It might be easiest and wiser to work with the current buyer(s) to try getting to SOLD. If you don’t see a good ending in sight with the current buyer(s) and they are undeniably in violation of the purchase contact, make a clean break, earnest money and all, and go find another buyer. You should also ask your agent about accepting a backup contract in the meantime.
Web Reference: http://myvalueagent.com/
0 votes Thank Flag Link Tue Apr 19, 2011
Your listing agent can assist you with all of your questions, which is governed by the executed sales agreement No professional can render an opinion UNLESS all documents are reviewed.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Tue Apr 19, 2011
You're better to seek a real estate attorney's advice on this matter. Or if the title company has an in-house attorney for you to seek some preliminary advice, that could also be your start.

But no, technically you couldn't. But let the attorney explain to you.

Great question!
0 votes Thank Flag Link Tue Apr 19, 2011
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