Sellers Want to rent from their own home!

[John James]

Our offer of full listing price in cash was accepted at a Aug 1 closing. One month. They did not sign the contract yet as we were informed they needed time to find a rental so they can move.  Three days later the realtor called us to tell us she was informed they were in foreclosure in another home and could not find a rental that was the same price of their current mortgage on the house they are selling. We were given an option to buy the home and then rent to them for a year! We denied that offer adamantly and said they have 90 days to accept  our offer. I dont understand how they could deny 300 thousand in cash if they are in all this debt. Or how they could set an August first deadline? So confusing and frustrating. Well hopefully they realize they wont find a better offer and they feel some pressure with that cash offer.  We are completely in love with the property.  Thoughts?