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GreatToBeBritish

House sold subject to contract... but buyers pull out .. thoughts?

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Hi there

we accepted an offer on our house with a “ subject to sell” from the potential buyers with a $50k deposit. . Our buyers have now pulled out of the sale as they cannot sell their house. However, we have offered to buy their house so sale can go through. They have declined to accept the asking price for their house. 

 

Were in limbo now. Any ideas? 

 

Thanks in advance

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The initial contract should specify the time period in which they have to sell their house in a subject to sale contract if it’s not sold in that time the contact is void unless it is amended and agreed by both parties 

the fact that you have offered to buy their house at the asking price is immaterial it’s the original contract for them buying yours that’s the issue 

Edited by shaunfreo
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So not a lot you can do but put your house back on the market, didn’t your real estate agent advise you of this , if they didn’t I would get a new one

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Easy in hindsight but why accept such a condition? Just get it back on the market and don’t take it off until contracts exchange. Was the deposit refundable?  


So many wineries ......so little time :yes:

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