Selling a house. The buyer’s realtor refuses to sign the release of earnest money.

This happens in Texas. I was selling a house. The buyer deposited $1100 as the first earnest money for the contract. They requested three amendments for extending the closing date because the lender didn’t finance their purchase for reasons not disclosed to me, the seller. The three amendments included three extra earnest money of $0,$700, and $700, respectively. The second $700 extra earnest money was deposited to the title company. The $700 in the third amendment was not deposited. The buyer’s realtor has been not responding to anyone, including her client buyer, since the third amendment was signed. We basically did nothing and watch the contract ended. After that, we contacted the buyer directly and according to the buyer, the buyer never knows that the third amendment includes an extra $700 earnest money. But the buyer DID signed the amendment prepared by her realtor without reading it… The buyer is willing to sign the release of earnest money, but she wants the form to be prepared by her realtor who’s not responding to anyone. Also the form of release of earnest money needs the signature of the buyer’s realtor/broker. The realtor is not in any emergent situation stopping her for responding since she kept telling us to wait.

The biggest bummer for me is that I CANNOT sell the house without these people’s signatures for the release of earnest money to officially end the contract. It has been 10 days after the supposed closing date. What can I do at this stage? How can I sell the house now? I got a cash offer later with reasonable price from a buyer wanting to close in 10 days. Is there any possibility I can sell it to the cash buyer?

submitted by /u/e10MrAAAA
[link] [comments]

This happens in Texas. I was selling a house. The buyer deposited $1100 as the first earnest money for the contract. They requested three amendments for extending the closing date because the lender didn’t finance their purchase for reasons not disclosed to me, the seller. The three amendments included three extra earnest money of $0,$700, and $700, respectively. The second $700 extra earnest money was deposited to the title company. The $700 in the third amendment was not deposited. The buyer’s realtor has been not responding to anyone, including her client buyer, since the third amendment was signed. We basically did nothing and watch the contract ended. After that, we contacted the buyer directly and according to the buyer, the buyer never knows that the third amendment includes an extra $700 earnest money. But the buyer DID signed the amendment prepared by her realtor without reading it… The buyer is willing to sign the release of earnest money, but she wants the form to be prepared by her realtor who’s not responding to anyone. Also the form of release of earnest money needs the signature of the buyer’s realtor/broker. The realtor is not in any emergent situation stopping her for responding since she kept telling us to wait. The biggest bummer for me is that I CANNOT sell the house without these people’s signatures for the release of earnest money to officially end the contract. It has been 10 days after the supposed closing date. What can I do at this stage? How can I sell the house now? I got a cash offer later with reasonable price from a buyer wanting to close in 10 days. Is there any possibility I can sell it to the cash buyer? submitted by /u/e10MrAAAA [link] [comments]

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