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In article .com, writes:
"But I wouldn't even worry about the escrow money. I didn't. Just put
your house back on the market, and don't return any more calls from
those loser buyers. "

It may not be that simple. It sounds like the bogus buyers are still
unwilling to agree to cancel the contract, even if they get their
deposit back. She's also using a realtor, who she presumably also has
a listing contract with, that further complicates the situation. So,
its a real mess. Until the first buyer acknowledges that the contract
is terminated and the realtor returns the deposit, it's doubtful the
realtor is going to get involved in trying to sell it to another party.

Yep the only reason it turned into such a mess is because the buyer and
their agent refused to admit that they'd defaulted.

If it were me, I'd have my lawyer send the buyer a letter telling them
they have X days to close, otherwise they will be in default on the
contract. And tell them that if they either close or agree to cancel
the contract by date X, they get their deposit back. After that date,
you intend to keep the deposit.

We did that two weeks ago, the letter that I mentioned in my OP. It
stated that as of that Tuesday if we hadn't closed, the deal was over and we
wanted the deposit. They refused to sign the contract release admitting it was
defaulted and giving me the deposit, and they continued to pursue a mortgage.
Absolutely pig-headed. The house went back on the market that next day
but we haven't had any action on it yet.
I learned this week that when they said they "found a new financial
backer on the west coast" really meant that the old mortgage company threw up
their hands and refused to give them a mortgage so they went elsewher and
found a new mortgage company. A couple of days ago my agent called their new
mortgage officer to ask what was going on. The officer was like "and I'm
talking to YOU... why?" My agent was diplomatic and didn't say she wanted to
get a status from someone who'd tell the truth, but she probably should have.
At any rate, it's all finally come together, closing today at 1pm and
no other buyers on the house, so I'm going to give it to them. As much as it
would be fun to tell them to eff off, it would take going to court and I'm not
interested in doing that. Just give me my money, take the house and never
darken my doorstep again, thankyouverymuch! hah!

- Sharon
"Gravity... is a harsh mistress!"

In article , (Sharon) writes:
At any rate, it's all finally come together, closing today at 1pm and
no other buyers on the house, so I'm going to give it to them. As much as it
would be fun to tell them to eff off, it would take going to court and I'm not
interested in doing that. Just give me my money, take the house and never
darken my doorstep again, thankyouverymuch! hah!

Pardon for replying to my own post, but this is too rich not to share.
I'm back from closing. Well, my half anyway. The title company had all the
paperwork and everything was ready to sign off on. We heard from the buyer's
agent that they were running about 5 minutes late. No problem says we. I sign
all my papers and chat with my agent and the title company lady. 45 minutes go
by with no sign of the buyers, so my agent calls the other agent again. He
dithers and hems, she tells him that they had a 1pm appointment for settlement
and where are they. He dithers and hems some more. Finally tells her that his
clients are picking up some office equipment and when they got home he'd call
her. My agent passes the phone over to the title officer who gets the same
story. Finally she tells him extremely sternly that she's already got 3pm and
4pm appointments so when they get around to showing up they'd have to sign the
papers as quickly as possible and go. I left but told my agent to let me know
what ultimately happens. I have a feeling based on past experience with these
people that they may show up at the title office next week sometime and then
wonder why everybody's rude to them.
I think this addresses Dimitri's reply to my OP where he said it looked
like they were trying very hard to purchase the property. Not so hard as to
actually be bothered to go to closing...
Off on a tangent again, and this is none of my business but we had time
to gossip; when my agent was telling the title officer the short-form of the
financing lies they got caught in, she raised her eyebrows at the "my husband
owns the other two houses, this will be mine" excuse. She leafed through the
paperwork and confirmed it: the buyer claimed she was single on the loan
application. (This is important to the government for tax reasons.) We
just shook our heads at each other and agreed that the mortgage company was
really stupid for going through with this because it SCREAMS pending
foreclosure.

- Sharon
"Gravity... is a harsh mistress!"

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