All Forum Posts by: Nick R.

Not sure what you mean by a weasel clause?

Latest update. So, this morning my Realtor advised me that the buyers are not going to release the earnest money and are now saying that the deal fell through because the property was not up to lender approval. The deal was not financed because after the buyers were pre-approved for the loan and after the option period expired, they went out and bought a new pickup truck with a $700/month payment. After the lender did a soft pull on their credit just before closing they then denied the loan. I have asked for them to provide proof that they were denied funding due to the condition of the property. The title company has the last say in who gets the earnest money. I'm wondering if there is anything I can do?

I have a few choice words to describe the buyers Realtor, but am afraid of getting banned on biggerpockets... Can I go after this Realtor in ANY way??

I'm selling a property and had it under contract but the buyers financing fell through. I'd like some of your thoughts on if it is a good or bad idea to include this in the description I'm putting on the flyer (I'd simply put at the top of the flyer "Back on the market!"). I think it's a good idea as potential buyers will see this and realize that the property already had an offer on it and perhaps increase their motivation to make an offer quick if they like it. What are your thoughts?

Thank You all for your responses! The deal has fallen through and I'm waiting on the title company to terminate the contract and send me my earnest money. @Bill, your point of them being negligent is very valid and although I don't believe I can prove anything in a court of law, it is something I'm going to pursue a little bit further. I just can't believe the stupidity of people sometimes, truly mind boggling! *banging my head against the wall*

Well, not sure if I'm explaining this well but, we had agreed that I would make the repairs that they requested provided that they then buy the house. The repairs have been made and now they are not going to buy the house. Is that not breach of contract?

Here's the scenario. After agreeing on sale price and having their inspection, the buyers and I agreed in a repair amendment that I would make certain repairs to my property which ended up costing me approx $4,500. Now, we are out of the option period and with just days left until closing they went out and bought a new car! Needless to say they can no longer get financing for the house. They are in breach of contract and I will get their earnest money but I'd really like to know if I have any legal recourse to take regarding all the repairs I had made as we had agreed to in the contract?

I'm getting my RE license for investment purposes and am looking for a broker in the area whose relatively low cost and where I can hang my license.

Any ideas or suggestions?

I'm selling a flip and the buyers just had their inspection. They are concerned the roof may be uninsurable. The ridge shingles were improperly installed by the previous owner and are missing in some parts. There is also two layers of shingles, which I believe should not to be an issue. If ridge shingles are missing will it be uninsurable? How much would it cost to have a roofer install ridge shingles properly? (the house is a single level, 2200 sq ft.) Below are pics from the inspection report.

Correct, there are two layers of shingles on the roof.

I am selling a house where the roof has been over-laid with shingles by the prior owners. The buyers Realtor is saying that the house is not insurable with this. Is this true? The house is in the Irving, TX area.