Many real estate agents find themselves in this embarrassing situation. The buyer submits a repair addendum under Paragraph 9(c)(3) on day 3 of the “Due Diligence Period” asking for termite repairs. The seller agrees believing that this is the only repair that the buyer wants. The buyer then comes back three days later and asks []. Accepting an offer on your home occurs when a contract is made in signed writing. Home sellers can back out of the terms of these agreements in select instances (and for a limited time period), subject to the individual rules, terms and contingencies defined in the document. Shop McCluskey Yard Sign designed by FamilyCoatofArms. Lots of different size and color combinations to choose from. Free Returns High Quality Printing Fast Shipping.

Here’s what will happen during the house closing process for sellers in that month or two between accepting an offer and signing the paperwork that makes the sale official. 1. The buyer puts earnest money into escrow. Earnest money is a cash deposit paid by the buyer to prove they’re serious about buying your home. For assistance with a legal issue related to a California real estate purchase or dispute, contact the seasoned and knowledgeable San Diego real estate litigation attorney Jon Alan Enochs for a confidential consultation at 619-421-3956. We also learned the water meter in the garage was repaired in years past and the property owner paid the bill. We backed out of the contract. Now, the seller refuses to sign a mutual release, and their lawyer sent a response they expect to close. They won’t return the $15000 earnest money. Our agent wants nothing to do with it.
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