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You decided you don't want the house? We close tomorrow...

Please advise as to how you handle a client, now friend, who says they decided they don't want the house. Been financed. Just did the walk thru. How do you handle this with a now, friend? If it does close, how do you handle the relationship now?

Posted by Heather Augustin on 10/29/2007 09:23 PM

Comments (6)

6 Comments on You decided you don't want the house? We close tomorrow...

OCT

2007

True friendship always lasts, through thick and thin. Be there for your friend.

Sounds like in most states they would lose any deposit and also be liable for any additional depsoits called for in the contract. The seller may be able to sue for specific performance, damages,expenses, etc. The buyer made this decision. You didn't. I would advise the buyer to close and put it on the market, maybe consider some counseling.

WOW!

But why?

With all that Bill said I will add that if they really don't want the house you would jump in and resell it for them. Maybe even do a little discount on the commission to help out.

Right now you need to be objective and make sure they are informed of what the consequences will be if they walk and what their options are. If the sellers can sue for specific perfomance, they may be better off just to settle and if they do find it's not for them to re-sell. Is it just an extreme case of buyer's remorse? Have they been emotional throughout? Let's hope they sleep tonight and wake up in a different frame of mind! Good luck and keep us informed.

Do they have an attorney... He should advice them of their options. Let them make the decision after they here what the consequences are.

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