So we are planning to walk away and have another offer coming in tomorrow.
Previous post for those interested https://www.reddit.com/r/RealEstate/comments/6it21b/update_fl_missed_closing_date_3_now_4_times/
So we are walking, sent the release and cancellation to the buyers but they are still trying to push for closing. My realtor got on the phone with their broker today and they pretty much said that the repairs the home buyer program were going to make, we need to make before closing. So now they are trying to say its the condition of the house that is missing the closing.
However here is my question. 1. I have the loan commitment/approval from the lender and no repairs were required then. The lender told us that before the home buyer program tried to fix all this, it was not an issue and they had the clear to close for the original close date.
So Can I keep the deposit? Do i have a valid claim? Since per my contract we had the loan commitment and we were not asked to make these repairs until AFTER missing closing date.
- Being FHA i know their appraisal will carry to the next buyer. But will these ridiculous repairs also carry over with the appraisal? The appraisal passed the house with flying colors. To give you an idea of some of the repairs …
"Replace window that is hard to open" (I can open it just fine, and close it, its functional).
"Replace entry door" (I have no idea why, its in good shape and not broken"
"Replace All kitchen and bathroom outlets with GFCI" (Im pretty sure they are all on a GFCI Circuit, and while not all are GFCI, one is which i believe is all that is required"
I am not going to list them all but its seemingly minor, but 3k in repairs (mostly the new window and door) so the lender is deeming a house needing these repairs as unsafe. So will that determination transfer with the FHA stuff? We disclosed this to the new offer and they pretty much said if the appraisal is clean we are good.
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