Refusing to sign cancellation?!

[Seth S.]

Hey guys! 

Looking for some advice on a weird situation I am in. 

We made an offer on a SF home and had until the 24th of Jan for due diligence. Hired an inspector; got results; took out big findings and sent them to the agents with a request for 10k credits. The sellers countered with 2k to which we refused. We then asked our buyer agent to cancel the contract and she sent us the copies that we eSigned on Jan 24. 

The issue is the sellers do not want to sign the cancellation from their end, which is holding up the release of the earnest money from the title company. Their agent is telling mine that they don't want to sign, but my agent is telling me they have 0 say here since we signed the cancellation papers before the expiry of the due diligence period. Also, their agent put the house back up For Sale status (it was Contingent - No Show). 

Any thoughts / advice / words of wisdom?

(This is in Nevada; if it makes any difference)

[Bill B.]

I don’t know why sellers do that. Probably they’re mad that the property they thought was sold wasn’t. Maybe contact selling agent’s broker? Contact the title company. I assume they deal with this all the time. They may have a form they can send out saying this will be cancelled unless you respond with a reason why it shouldn’t be. 

If you are also vindictive you could tell the selling realtor to remind their seller that they now have to disclose all the defects your inspection found. And that you’ll probably be mailing a copy of the inspection to the new buyers to make sure they were. The fact that it went back on the market probably means they didn’t have any backup buyers but only future buyers.