The Agony of Sellers Changing their Minds

By
Real Estate Agent with Smart Green Realty

I have only one deal "in the drawer" and I just got a call that the seller is changing her mind! The house has been on the market for over 100 days. The seller has bad knees. It is hard for her to get up and down the stairs. Her plan is to move to new construction in a nearby state. The builder just reran her credit and it has slipped. So now she wants to stay put. My buyer is heartbroken.

I just called her broker because this makes no sense. My buyer has given notice at her apartment. Settlement is supposed to be in 5 weeks. He says his company works for the seller. It may look to us like the move makes sense--even if the seller has to rent for a while--but the seller feels like she is being kicked out of her home. She is 66. It scares her to think that she does not "own" anything. 

I think the broker needs to help her see the light--not defend an unfair position. What experience do you have with sellers who change their minds?

 

Comments (3)

zeta cross
Smart Green Realty - Philadelphia, PA
Getting Greener Makes Your home worth more!

Give me a clear case when sellers are right to withdraw a house --even though they have a signed agreement and negotiated building inspection. They passed two legitimate chances to withdraw and then upended the buyer's deal. So Unfair.

Mar 04, 2017 06:37 AM
zeta cross
Smart Green Realty - Philadelphia, PA
Getting Greener Makes Your home worth more!

I asked the agent's broker to try to talk to the seller and he won't.

 

Mar 04, 2017 06:38 AM
Colleen Fischesser Northwest Property Shop
RE/MAX Advantage | Managing Broker - Chelan, WA
A Tradition of Trust in the Pacific NW since 1990!

Very odd. Here in Washington, Seller's have very little ability to terminate for any reason. AT ALL. Only if a buyer doesn't perform do they have an out. This is when we have to tell our clients, we are real estate brokers, not attorneys. It may be time for your client to seek legal counsel. I'd say the same for the Seller. I hope her Broker is advising her the same. 

Mar 04, 2017 08:38 AM