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Home Selling in Raynham : Real Estate Advice

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Activity 6
Sat Sep 19, 2015
Amelia Robinette answered:
In Virginia, a financing contingency automatically extends to the closing date, unless it's specifically changed in the contract terms, so if you were here, you wouldn't have cause to cancel.

As Dan says, have an attorney review the terms of your contract and tell you your options.

Why would you want to cancel instead of pursuing this transaction? Do you really want to put your property back on the market and start over?

Sounds like a communication, or lack of, issue between the parties. If you have an agent, ask them to get details from the buyers agent and loan officer to find out why there is a delay. There are a lot of desks a loan file goes across, could be held up for some mundane reason somewhere.
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Thu Oct 30, 2014
Alvin King answered:
Are you represented by an Agent? It is very difficult to comment on this situation since you have a contract with specific terms. This question should be directed to your agent. Good Luck! ... more
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Mon Sep 16, 2013
Bill12345678911 answered:
Suzanne,

Sadly, none of these realtors answered your simple question: "can you cancel the contract due to the conditions in the commitment letter?"

They all just attempted to convince you to go through with the sale. They are only looking out for themselves. Remember this and use a real estate attorney next time. Although generally just as slimy, they are at least professionals. Let the listing agent perform the only action that realtors are qualified to do - unlock a door and let you into a home for sale. ... more
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Sat Oct 27, 2012
Heath Coker answered:
You are asking for what appears to be legal advice.
I would ask a lawyer.


(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.) ... more
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Tue May 10, 2011
Heidi Zizza answered:
Unfortunately you cannot do much. It does not need to be a cash deal, you can still use financing however if your financing gets denied it has to be cash. Did you get a denial letter? Consult your Attorney! Why were you not talking directly to YOUR lender, more communication here is needed. Perhaps the seller will agree to an extension, have they been asked? ... more
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Fri Apr 29, 2011
Karen Myers answered:
If you aren't satisfied with the agent of company, you should be able to submit, in writing, a brief description of why you feel you are not able to keep the listing agreement. Most agencies will honor it at no charge, if the request is valid. Most agencies list for a 6 months with a samll cancellation fee. You should be close enough to your agent to discuss this with them at any given time.

If you want out because you have decided not to sell, the property can go into a withdrawn status and usually the agent will do so with a written statement or even a phone call to them.
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