View Single Post
  #1   Report Post  
Ed Roberts Jr
 
Posts: n/a
Default Seller wants to cancel after agreement expires, buyer does not

We signed an agreement to sell our house in June without a realtor's
involvement, and now we think we sold it for too little. It's now
almost a month after our second scheduled closing date (after signing a
written agreement to extend it once). We have called the escrow company
a couple of times since then to cancel the sale, and they agreed that
we are no longer obliged to sell the house, but they couldn't release
the earnest money unless the buyers also agreed to release it.

Meanwhile we have been talking to several different realtors to list
our home. It's taken a while, since the house is just across the state
border from most of the local population, so most local realtors are
not licensed in the state where the house is located. We have a realtor
coming out tomorrow and expect to list it this coming week, however.

The buyer just called me an hour ago to say that the loan has funded
and the sale has been recorded, and he wants the keys. Of course, this
is the same guy who has been promising the moon for the last several
months. I have heard nothing from the escrow company.

What is our best option to cancel the sale and list the house if what
the buyer says is true?

Thanks,
Ed