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rubydoo67

Update on relo buy and need advice

gardensgirl
17 years ago

My previous posting is below regarding buying from a relo company....frustrated! Although I did speak with relo case manager, nothing has happened. More broken promised deadlines.

DH and I are really having 2nd thoughts. The property he owned is sold, but my property is still for sale. I've had 3 people thru in 2 weeks (granted we had a snow/ice storm last week). I have just lowered my price again, to my bottomline. I need XX to make our new house work. I have until May for my house to sell and settle.

My question: it seems our only out is going to be the home inspection breach of contract. They were supposed to answer us within 7 days after receiving our HI requests and the report. The report was given to their agent on 02/02 and it is now 02/17.

We have no contingencies in our new home purchase contract. I thought we might be able to use financing as an out, but my brother the mortgage officer said that although he could deny our loan, we would probably be forced to apply elsewhere and we WOULD be approved. Technically on paper, it seems we can afford to carry 3 mortgages...the new house, my old house and my bridge loan, etc. Crap!

To make a long story short, we can offer up a breach of contract to get out of the new home (I think) or at least hope they don't offer to fix everything we asked and walk, or take a chance that my house will sell and settle before May 15, 2007.

Unfortunately, our RE is no help. She is too new to the business and not agressive at all. I have even begged her to have her broker call the listing agent's broker, but she didn't. She made us fill out a "release from contract" and told us the other party has to sign it too. I don't think that's right.......they breached the contract so why do we have to have their approval?

This whole thing is a nightmare and neither DH nor I have had any sleep whatsoever. It's now been over month since the contract to purchase was even signed!

We are so confused.......we really love the house we bought, but with no interest on my house for sale whatsoever, we are very worried. I know it's Feb. and I know we just had the terrible winter storm, but still. My RE agent told me I was priced too high (after I priced it at what she suggested!, so I have lowered to what the last comp in my neighborhood sold for.. We know my house will sell, just not sure when. We just don't know what to do.

Thanks for letting me vent!

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