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Updated over 1 year ago on . Most recent reply

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Harris Harris
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10
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Relisting property after termination

Harris Harris
Posted

I got into a contract with a buyer for my flip last week. Due to market condition, I accepted an offer which is $20K below asking and additional $20k credits towards closing. After inspection, buyer/agent came back asking for additional $10K credits and few repairs to which I declined. They tried to negotiate hard most of the time threatening they will take legal action by saying few items were not disclosed. I didn't budge and declined additional credits.

They finally sent a termination notice but checking with their lawyer regarding request of earnest money. Looks like they don't want to send the release of earnest money form and instead trying to get some reimbursement for inspection, appraisal etc.

My question is can I relist my property since they sent me the termination? My agent is hesitant saying we should wait for them to send the release of earnest. I don't want to wait and waste time and want to relist it asap. Let me know your thoughts.

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