All Forum Posts by: Andrew Johnson

Are you saying the buyer wants to back out of the contract after all contingencies are expired? Your EM is a bet on yourself to be able to close the deal. You can’t close, you forfeit the bet. What’s their alleged justification for fighting this fact? Seems crazy to me.

And yes all contingencies have expired. They're basically trying to make it hell for the seller to keep the EM so seller would just give it back to them and move on.

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Originally posted by @Russell Brazil:

That is correct in my market. Unreleased contract means you can not relist the property. Many title attorneys here also will not clear the title if the deposit and contract are not mutually released.

Even though the closing date has passed and buyer wasn't able to close?

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Their justification is that it was only 1 day past expiration date of the financing contingency. Which also was the day before closing date.

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Buyer's loan has been denied after financing contingency has expired. Apparently they want to put up a fight about the EM. Their agent told me(listing agent) that if seller doesn't sign the release of EM to buyer, it will cost them a lot of time and headache while it goes to mediation/court and they can not relist the property until this is resolved. She said the closing attorney(who holds the EM told them that). Is that true?

(mods can you please change the title to Can you relist a property if buyer won't sign release of EM?)

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All Forum Posts by: Andrew Johnson

Andrew Johnson has started 1 posts and replied 4 times.

Post: Can you relist/re-activate a listing if buyer refuses to sign rel

Post: Can you relist/re-activate a listing if buyer refuses to sign rel

Post: Can you relist/re-activate a listing if buyer refuses to sign rel

Post: Can you relist/re-activate a listing if buyer refuses to sign rel