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Can a seller back out because a higher offer came in 4 days later?

We signed a contract four days ago at full asking. Now the seller says they got an offer $40k higher and wants out. My agent thinks I'm still the one they're obligated to unless I miss a deadline, but I need that actually confirmed. Can they even do this?

11 Answers

Is it normal for two lenders to calculate my income completely differently?

I sent identical paperwork to two lenders and one said my self-employed income wasn't enough for the loan I wanted while the other just asked for more documents, so is it normal for lenders to land in such different places on the same file?

7 Answers

Should we get a second opinion on our commercial listing price?

We have spent two years marketing a commercial property through the same brokerage, and each offer has arrived below what comparable sales suggest. Firm deadlines have repeatedly been extended without explanation, and a sister property was valued similarly low by a colleague at the same firm. Should we request an independent valuation, engage a second brokerage, or continue as we are before accepting a further discounted offer?

6 Answers

Is a $5k forestry-classified lot worth the legal risk?

I have identified a 7,000 square meter parcel priced at roughly $5,000 due to the owner's liquidity needs and the property's unresolved legal classification. The valuation report designates the land as forestry rather than developable, though older imagery suggests otherwise. I am weighing whether pursuing reclassification is worthwhile or whether this ambiguity makes the acquisition imprudent despite its low price.

6 Answers

can i get my earnest money back if the deal falls through

we put down earnest money and now the deal is falling apart cause the seller wont fix stuff they said they would. can i still get that money back or am i just out that cash now

13 Answers

Should I do a deed in lieu instead of trying to sell?

After falling behind and getting a preforeclosure letter with a hard deadline of the 11th, and only two showings in the month since we listed, I'm trying to figure out if signing the deed in lieu paperwork my lender sent is smarter than continuing to wait on a buyer we don't have yet.

10 Answers

Will my buyers' second VA loan need extra inspections too?

We already fixed the chimney cracks and sump pump before our first VA buyers backed out over the inspection report, and our new buyers are also using a VA loan but only want an electrical and water inspection. Will the lender still require a full new inspection since its VA again, or are we fine since everything is already documented?

8 Answers

Can a seller ditch verbal maintenance credit promises at the last minute?

Seller verbally agreed to maintenance credits before we went into escrow on a small commercial building, then came back with zero credits after due diligence found real problems. Is that actually allowed, or do I have any leverage here since nothing was ever in writing?

10 Answers

Is $305k fair for land that sold for $155k months ago?

Im looking at 18 acres in rural southern Indiana split into three lots. The whole 18 acres sold for $155k earlier this year, and now theyre asking $305k total for the same land subdivided, even though two of the lots barely have a dozed dirt driveway. Is there any real shot of getting all 18 for $200k or less, or am I missing something?

10 Answers

How do I negotiate a private, no-realtor sale to my neighbor?

My neighbor wants to buy my house with cash for their elderly dad and skip realtors entirely, but I still owe close to what its worth and need enough to cover closing costs. How do I figure out a fair price and actually negotiate this without an agent involved?

11 Answers