Buyer Terminated Day of Original Closing

 In RealEstate

We were supposed to close on the sale of our house today but the buyer terminated the contract. They got clear to close and then lost their job. They got another job immediately and figured they’d be fine and didn’t tell their lender. Lender called employer the week of close and found out they weren’t working there. Yesterday they told us the situation and that they’d have new W2 and paystub from new job today and lender would close next week. Our agent verified all of this. Well, today they said they got fired from the new job and terminated the agreement. Now we close on our purchase on Monday and have enough cash to do it but this will make money tight for a bit and sucks we have to go through the process all over again. Also, now we get to fight over collecting their earnest money. Fun stuff.

submitted by /u/chicre1
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