The sellers haven’t even started packing
We just completed a walkthrough of our new home, and discovered the sellers have not even started packing. We heard rumblings that they thought they had undersold their home to us. More troubling, the sellers overtly complained to our agent that Bay Area rents are higher than they expected. Can these be signs they are laying the groundwork for renegotiation?
Yes, but in their daydreams they should see stop signs behind each seat at the other side of the renegotiating table. Provided your purchase contract does not have loopholes or potholes, the sellers are not in the driver’s seat, or even the back seat, when renegotiating a well-built purchase contract; they are outside sitting on a park bench. Sure, the sellers still have “pink slip” ownership, but they ratified an offer which some real estate attorneys refer to as “the road map” to completing the sale. The sellers dashing out of a purchase contract is as prudent as jumping out of a moving vehicle. For this to happen, the listing agent must clearly be asleep at the wheel. He or she needs to wake up and turbo-charge the seller out of idling toward litigation.
California real estate attorneys remind us it’s rare to force a buyer to buy. Conversely, they proclaim it’s easy to force a seller to sell. Stubborn sellers who refuse to sign closing escrow papers can be directed to sell by a judge. Furthermore, this spectacularly unnecessary wheel-spin usually ends with the sellers paying attorney fees for both sides. Lest we forget, there are legitimate reasons for home sellers’ remorse. Typically in those cases, it is not uncommon for sellers to pay a buyer to drive-off into the sunset. That’s not the same as in this case. After consulting a real estate attorney, flag down the listing agent’s attention with your own written tune up assessment. Drive the point that home that if Johnny Law needs to be at the wheel to move you into that house; it will be under seller sponsorship.
Full-service Realtor Pat Kapowich provides old-fashion service in a high-tech world. Call Pat for his list of the top buyer or seller mistakes at 408-2457700 or email Pat@ SiliconValleyBroker.com