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I apologize if this is in the wrong place. I've been in the home buying process for a couple months now and these forums have been so informational. Now, I'm having problems and I need advice.
I'm going to skip through my whole lender-is-a-curse problems and fast forward right to closing, which is where I'm at now. If any previous information is needed, please ask. I'm buying a house for $85k and the sellers and I have signed multiple paperwork stating they will pay closing costs up to $4500. Great! We get the clear to close and we all agree that Friday at 4 pm works for everyone involved! Awesome! It is now Thursday night and I received a phone call from my realtor saying that we cannot close on Friday because the current homeowners no longer want to pay closing costs and instead want to put a lien on the house for the $4500 so that I pay instead.
WHAT???
Am I missing something? Is there some key piece of information that someone did not give me? I left my lender a message to call me in the morning but from what I read, this is going to completely screw everything up, and aside from that, this was not agreed upon! Is there anyone who has any inkling of an idea of what could possibly be happening to me right now?
The seller can't do that if everything is written in the contract they have to follow it. That would be like the seller deciding they want $95 instead of $85 at the last minute. That is the reason there is a contract in the first place and I am sure you have a copy of the signed documents just like they do. You have already invested money into the property with inspections and appraisals and given a deposit. Your realtor knows better too if they have any experience at all. Tell your realtor you have a signed contract and you expect it to be followed and that you do not agree to amend it. Maybe some others will have advice on who to contact legally. Is there a lawyer handling the closing? Would the realtor association be a place to make a complaint? Is the realtor your buyers realtor or the sellers realtor? The buyers realtor looks out for you. We are in the end stages now of our contract preparing for closing. The buyers are paying our closing costs and they can't change their minds now.
Thanks for your reply!
The realtor is representing both myself and the sellers. She has been awesome throughout this process. She seems just as confused about the seller's position on this whole debacle. She made it sound like the sellers no longer wanted to pay closing costs and that the lien was an option they were considering to skirt around the costs themselves. I have not spoken to my lawyer but I will tomorrow. My realtor informed me of this after everyone was closed for the evening.
From what I've read, this lien will be an impossibility for the sellers to do, correct? I don't know who in the world they are getting their advice from but I wish they could have figured this out before it delayed my closing! Regardless, I refuse to allow an amendment.... they offered to pay closing costs and they need to make good on their obligations.
Why didnt you get your own realtor instead of using theirs?
@Anonymous wrote:Why didnt you get your own realtor instead of using theirs?
That doesn't matter at this point.
I didn't think anything of it? I found her highly reviewed online and she happened to be representing the owners of the house I was interested in.
Yes, she said that she was going to make sure that they understood that they are paying closing costs as per the contract, which explicitly states they will pay up to $4500 of closing. She said that she hoped the sellers would figure out what they were doing by Monday. She honestly seems as thoroughly confused by them delaying closing over this as we are and it truly seems like we dont have all the information. What really struck me was when she said they wanted to take a lien on the house to pay for closing. I just feel like someone, somewhere in this process got some bad advice and they just ran with it.