Purchase Contract Issues?
Hi. I'm new here and am having problems w/purchase of first home.
I'll try my best to keep this brief. The seller accepted an offer. I had a mortgage person dragging their feet and not returning calls and after 2 weeks started papers with another to make sure I wasn't put against the wall to accept an offer at the last minute. In the end the first one made an offer the Friday before closing and the 2nd one said she could beat it and would hopefully have it by Monday (the closing date). I asked my agent to file an addendum and was told not to worry that it is covered under the contingency clause in the contract stating that the closing date is a target date only and that upon request in writing by any party there will be an automatic 31 day extension. I was told that this would be confirmed and that I would not lose the house on a technicality.
The docs were finally received, but not until 10 days after the "target" closing date. The seller requested I turn on utilities to keep vegitation alive 4 days after the "target" date. The 5th day, docs were still not received and I heard the seller was angry and backing out. The seller's agent listed the property again 3 days before docs were received and another offer was accepted by seller.
The seller insisted I was out of escrow and that someone was lying to me if I thought I was still in escrow (ie, the title co., the agents, the lender). His agent told him such and his word is law to the seller regardless of what the title company had stated to him personally.
My agent and sellers agent work under same broker. My agent never pushed the issue and just sat back and told me it was up to the seller and the seller's agent will not return his phone calls. When I asked if I should seek someone to represent me, I was always told that I should try and speak with the seller myself. I asked if the contract means anything and again was told it's up to the seller.
Phone calls were finally made to the broker whom was "on a cruise" and apparently the broker finally pulled the seller's agent off of the case and transferred it to another. Again the seller refused to sell (even though the 2nd buyer pulled out). The lender funded the loan and the funds were made available even though the seller hadn't said anything about being agreeable. I believe the lender thought they would quit fighting once they realized the monies were truely there.
Now the 31 days have expired. I filed a Notice of Interest before this, but another offer was accepted and a title company recorded 9 days after the 31-day expiration. I also have found out that the title company has done so at "no charge" which is interesting to me.
One more thing to note- after the "target" closing date, the seller's agent said there was not a request in writing which justified him listing the property and accepting another offer (a cash offer). My agent stated that there was one and brought over a letter stating I was exercising my rights to the extension under the contract. The title company said they couldn't find a copy of the letter and therefore received it 2 days after the "target" closing date. The contract gives no time as to when the request should be made.
Sorry for the lengthy detail, but I'm not sure how much of this is significant. Does anyone have any insights into a situation such as this? I am seriously contemplating whether to cut my losses or if it's worth going after this.
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