All Forum Posts by: Cole Godshall
Cole Godshall has started 1 posts and replied 3 times.
Post: Seller decides he doesn't want to uphold his part of the contract
- Posts 3
- Votes 0
Quote from @John Clark:
Quote from @Cole Godshall:
I am currently under contract on a house where there are some standing issues with the house. The seller agreed to replace all the windows in the house since they are old and outdated for an increased sale price. We both signed this contract back on 11/5 with a closing date of today, 12/5. All of a sudden yesterday, 12/4, I got an email from my realtor stating that the seller has not done the windows yet and apparently is no longer is willing to do them. The seller is trying to re-negotiate the contract to not include the windows but I don't want to do that because I don't have the money to pay for those out of pocket. The cost of the windows is roughly $15-20k and the most I can get back from seller credits is $11.5k. Any tips on what I should do about this?
Why is seller credit so limited ? See if lawyer at closing can put the 20k in escrow so you can have windows done. That will protect the lender.
Post: Seller decides he doesn't want to uphold his part of the contract
- Posts 3
- Votes 0
Quote from @Chris Seveney:
Quote from @Cole Godshall:
I am currently under contract on a house where there are some standing issues with the house. The seller agreed to replace all the windows in the house since they are old and outdated for an increased sale price. We both signed this contract back on 11/5 with a closing date of today, 12/5. All of a sudden yesterday, 12/4, I got an email from my realtor stating that the seller has not done the windows yet and apparently is no longer is willing to do them. The seller is trying to re-negotiate the contract to not include the windows but I don't want to do that because I don't have the money to pay for those out of pocket. The cost of the windows is roughly $15-20k and the most I can get back from seller credits is $11.5k. Any tips on what I should do about this?
As others have mentioned, have money held back at closing. If they refuse to close then you can push the issue (legally). I assume when you say the "seller agreed" that this is in the contract or an addendum and not just a verbal agreement or email.
Yes it was in the original sales contract that the seller would perform replacing the windows at their expense. I can check if the money can be held back upon closing for this to happen. They have been unresponsive now the past 24 hours so I'm thinking I might have to threaten getting a lawyer involved now.
Post: Seller decides he doesn't want to uphold his part of the contract
- Posts 3
- Votes 0
I am currently under contract on a house where there are some standing issues with the house. The seller agreed to replace all the windows in the house since they are old and outdated for an increased sale price. We both signed this contract back on 11/5 with a closing date of today, 12/5. All of a sudden yesterday, 12/4, I got an email from my realtor stating that the seller has not done the windows yet and apparently is no longer is willing to do them. The seller is trying to re-negotiate the contract to not include the windows but I don't want to do that because I don't have the money to pay for those out of pocket. The cost of the windows is roughly $15-20k and the most I can get back from seller credits is $11.5k. Any tips on what I should do about this?