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Getting out of a Short sale-W/O losing $5k Deposit
hey guys, my wife put in an offer on a shortsale on a property while I was on a business trip. She called me, since we had been looking with no luck, and I told her that if she wanted, we would do it and to put in the offer. . The offer got accepted by homeowner to take to lender and we need to take the 5k Deposit in on monday. Agent says that we have a signed contract and we have to deposit the money and he will help us find a way to get out of shortsale during the inspection period, but the short sale is an as-is sale so I thought we couldnt use the inspection as an out and I dont want to spend 500 to do the inspection. I was thinking out just not turning in the check and thinking they wont do anything. Agent is adament they will take us to small claims court. Market is hot and agent says that they had multiple offers so I dont think they would have trouble getting another offer. The offer is 427k, full asking. Its not like we are in escrow and ordering docs, they havent even notified lender.
The reason we want out is because the house has a pool but wife didnt notice that its in really bad shape (according to my agent) and didnt have a fence and the house didnt have a ac unit which will be expensive and she didnt account for these expenses. The property is in San Diego California. The reason my wife wanted it is that its in the best school district in the area and has built in afterschool programs for my two gradeschool kids. My wife, upon inspection, thinks she will learn to love it but doesnt like it. I swear, my agent is right, some people think buying a house is like buying a pair of shoes.
I also saw cats in the house and a dog and the house had a light cat urine smell that I know is going to be in the cement and hard to get out. Never had a pool, but the motor stuff on the side of the house looks old and worn and it was running but the pool was dark green and some tiles on the side of the pool were missing and the bottom and sides were really scummy looking and the spa portion was really dark green, almost like jello.
The reason we want out is because the house has a pool but wife didnt notice that its in really bad shape (according to my agent) and didnt have a fence and the house didnt have a ac unit which will be expensive and she didnt account for these expenses. The property is in San Diego California. The reason my wife wanted it is that its in the best school district in the area and has built in afterschool programs for my two gradeschool kids. My wife, upon inspection, thinks she will learn to love it but doesnt like it. I swear, my agent is right, some people think buying a house is like buying a pair of shoes.
I also saw cats in the house and a dog and the house had a light cat urine smell that I know is going to be in the cement and hard to get out. Never had a pool, but the motor stuff on the side of the house looks old and worn and it was running but the pool was dark green and some tiles on the side of the pool were missing and the bottom and sides were really scummy looking and the spa portion was really dark green, almost like jello.
