This is not the first time, nor will it be the last time. In the last two months, I've had four escrows fall out for different reasons. And it surely hasn't been easy. I need to pull myself up, and say "NEXT!"
But maybe it will help if I.....>DEEP SIGH<....vent.
Escrow #1 on a triplex. Our agreement said the seller WARRANTS that this is a triplex. Problem is, city's permit history show they inspected 3 units; but county recognizes only one house. Seller insists it's a triplex. But unless this is the case in both city and county, this is not acceptable. So we back out.
Escrow #2 on an REO. Buyer hired property, chimney, roof and termite inspectors. Extensive damage found that would require a lot more work and expense than the buyer is willing to undertake. So we back out.
Escrow #3. Difficult case from the get go. Buyer had made offer that seller rejected. Weeks and no offer later, I chase down the buyer who still loves the house. Seller finally agreed to accept offer a bit higher than what buyer originally proposed, and lower than what he seller originally countered with. Several inspections later. Buyer asks for help with furnace, etc. Seller refuses Both buyer agent and I agree to come up with some funds to cover expense of furnace. Then the loan appraisal comes up $35K LOWER than agreed price.
Buyer still wants the house, and agrees to take on $15K over the appraised value, but $20K less than the offer price. Seller refuses to budge, cancels escrow.
Escrow #4 contingent offer. Buyer's offer is contingent on her selling her own house. When her escrow falls through, she had to back out of the escrow on buying my client's property. Now, she has another buyer....and she's submitting a second, but lower offer. My seller doesn't want to change from last offer price. Buyer's agent and I are trying to find a mutually acceptable solution.
>SIGH<
>DEEP SIGH<
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