Frustrating Real Estate Market

[Mayhem]

Did y’all find out why the buyer backed out at the last minute?


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[meltingfeather]

What would you be suing for? Doesn't the buyer have the right to back out and lose his deposit (or whatever it's called)?

Breach of contract. The owner is damaged by the breach of an agreement to buy the property under the specified conditions in the contract. It's obvious he's damaged from his post and this is why there are contracts.
You cannot back out on closing day without possible repercussions. In this case it looks like the frustrated, damaged party let them off the hook and took it on the chin.

[Rubi513]

Nice place for a good price.
We had issues when we bought our current house. We had a signed contract and when the realtor went to give the title company our earnest money, there was already earnest money from someone else for that property.
Turns out the sellers realtor showed that property the day we signed the contract and made another contract for these folks.
Our realtor hired a lawyer on our behalf and we were back in business in a couple days.

Our other house was on the market 6-7 months after we bought this house before it sold.

Good luck to you.

[Take Dead Aim]

The pictures of your house look great. My wife does some real estate on the side and is also a stager. I know what her suggestion would be....get rid of the taxidermy. It's distracting from some people even thought "we" on TBH may think of it as normal. Just a suggestion. Good luck.

Absolutely first thing I would do. I would never let a realtor post pictures with dead animals on the wall. While I love dead animals most people dont. You dont want abandone or upset half your buyers.

[Mudslinger]

I understand your frustration. We are trying to sell our house in Lubbock and unfortunately all the realtors that have shown our house said it is a 5 out of 5, BUT instead of putting granite in the kitchen and stuff we opted for double hung lifetime guarantee windows through out ($15,000+), plantation shutters ($5000+), xeriscaped front yard $9000+), front side yard pergola and landscaping all around with a 10' x 10' covered Redwood deck/pergola combo in the back. All they seem to focus on is "no granite!"
Unfortunately we made the house the way we wanted it and I guess our house does not fit anyone else. We have had 2 low ball offers ($15,000 and $20,000 below our asking price). Yes it is frustrating, fortunately we have already bought another house and the one in Lubbock is paid for, but I am not giving it away!

[Hogmauler]

Anyone can sue. Winning is a different situation. Not sure but the home might even have been off the market while being litigated. Ultimately the market is gonna determine sales price. Having said that the home seems very reasonably priced and is a nice looking home.
Trust God, encourage the family, and talk about your home every chance you get to people you come in contact with. When I was selling real estate there were times when I had the home sold before it came on the market.
Have your agent invite other agents over. Lay out a spread of chick fil a for em, do a gas card or gift card give away. Personally I never did open houses. Less than one percent of homes sell through open houses. Basically your opening up your home to strangers to walk through your home. Some of these folks have nothing better to do on a Sunday afternoon and I would bet that if they were they weren’t pre-qualifies or they would have an agent with them. Open houses are good for the agent because they can pick up buyer and seller leads.
As far as option money it usually depends on the price of the home. Asking more can be a double edged sword as well. Some folks may not have five grand to put down.
One other thing. I would go back over the inspection report and decide what to repair and what to negotiate on. If the majority of items on the inspection report are repaired then you just removed leverage from the buyers agent. They have no reason to low ball you if they can walk in to the home and live there without upgrades, repairs,etc.
Work like it depends on you and pray like it depends on God. He will get y’all where you need to be. Pm me if I can help.

[glen]

I was called yesterday after getting cold feet on putting my house on the market- Told to get house ready. Well I’m gonna get after it and put it on market by end of month and cross fingers - Good luck to you

[Mayhem]

Absolutely first thing I would do. I would never let a realtor post pictures with dead animals on the wall. While I love dead animals most people dont. You dont want abandone or upset half your buyers.

My realtor made me take mine down when we put our other house on the market.


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[Birddog66]

Nice place for a good price.
We had issues when we bought our current house. We had a signed contract and when the realtor went to give the title company our earnest money, there was already earnest money from someone else for that property.
Turns out the sellers realtor showed that property the day we signed the contract and made another contract for these folks.
Our realtor hired a lawyer on our behalf and we were back in business in a couple days.

Our other house was on the market 6-7 months after we bought this house before it sold.

Good luck to you.

OMG! That's downright horrible on the listing agents part. I'm sure your attorney had a field day with that one!

[TildenHunter]

I have been advised when selling a house that euro mounts are fine but shoulder/full body mounts are not. Euro mounts are seen as trendy.......supposedly. Looks like a nice house. Good luck on the sale!

[Mudslinger]

I have been advised when selling a house that euro mounts are fine but shoulder/full body mounts are not. Euro mounts are seen as trendy.......supposedly. Looks like a nice house. Good luck on the sale!

My realtor told me no problem in Lubbock on mounts, either full body or shoulder. Pics on Zillow and such show my full body lioness in my trophy room and a few of the other mounts. None are there now, but when they were in the trophy room, no one said a word. You can see my lioness and some other mounts as soon as you walk in the front door. Even had some in the living are net to the TV.

[Miller]

That stinks. Like has been mentioned a bunch already I'm sure you could filed a lawsuit, but that could eat up A LOT of time and it may or may not get you to your end goal.

It is probably a "red flag" for some Realtors/people looking when they see it was under contract so long and then fell through. Your Realtor can clear that up when potential people are interested, but usually the first thought is that there was something wrong with the house.

If you weren't made privy to the inspection your last buyers did, you might entertain doing your own and addressing any issues you see fit... then having your Agent post that on the MLS for other Realtors to see and pass on. That might help put people at ease.

Price usually cures all and it sounds like you are reducing so I'm sure things will turn around.

[Hogmauler]

If you take everything down then you have holes to patch, and yes it is good to depersonalize the property before you put it on the market. With some sellers you have to ask em what’s more important, price or time? Most will say “price” until you say ok, then you won’t mind staying on the market for a year”? I don’t think that’s the issue here. The sellers are making moves to achieve their goal, selling their home.
You can price a home where ever you want but most of us know that the bank will finance at what it appraised at. Anything more means the buyer anties up the extra or the seller drops the price.

[Rubi513]

OMG! That's downright horrible on the listing agents part. I'm sure your attorney had a field day with that one!

I never talked to the attorney. Our realtor handled everything. But yes, It wasn't long after the lawyer sent the letter they went to crawfishing.

[RiverRat1]

The pictures of your house look great. My wife does some real estate on the side and is also a stager. I know what her suggestion would be....get rid of the taxidermy. It's distracting from some people even thought "we" on TBH may think of it as normal. Just a suggestion. Good luck.

This. People are really dumb. The last 3 months has made that crystal clear for anyone who had any doubts at all.

I never understood... But stage neutral.

Neither party has a "right" to breach the contract. Yes, when buyer breaches and defaults on a contract they typically lose their earnest money, but this is not a 100% remedy. The seller can still sue.

Breach of contract. The owner is damaged by the breach of an agreement to buy the property under the specified conditions in the contract. It's obvious he's damaged from his post and this is why there are contracts.
You cannot back out on closing day without possible repercussions. In this case it looks like the frustrated, damaged party let them off the hook and took it on the chin.

I get it. And you're both correct. But what exactly could he sue for? Wouldn't he need to prove cost of damages? And the survey and other stuff he spent money he will save on the next buyer so I can't see suing for those charges (unless house never sells).