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the contract today how are they going to break it tomorrow this realtor needs a reminder in contract law and you should give it to him/her.
Personally, I would hold the realtor feet to the fire and remind her that the contract requires that the appliances stay, or does she endorse her client violation of the contract she had them sign? If the realtor came back and said that the sellers really needed them for their new home, I would tell her that she then will need to submit a new lower offer to Countrywide to account for the lost appliances (assuming that the realtor is handling the negotiation, otherwise, I would tell her that I will be submitting the lower offer). Bottom line, this situation just made it more difficult to negotiate a successful short sale. I would ask her to go back to the sellers with that new information (I would prefer to speak with them myself) and see if they still need to take the appliances. If yes, then I would look at my numbers one more time and decide if I need to reduce my offer. Even if you played hardball and said a contract is a contract and the appliances are staying, if the seller really needs them, they will probably disappear before closing.
If the appliances were included in the listing agreement and the sellers accepted your offer, they cannot take the appliances without you signing an addendum giving them permission to remove the appliances. If they should remove those appliances w/o your approval, then they are in breach of the contract.
I submitted an offer on a short sale (great deal) in Phoenix a month ago. The sellers accepted the offer and it has been fowarded to Countrywide. Earlier this week I was contacted by my agent and she said the sellers have decided to take the appliances with them (even though they are listed in our contract). Should I resubmit a new offer at a lesser price or would this scare off Countywide. I dont want to lose the deal but they just basically took 5k+ out of my pocket. I am the only offer in on the sale due to certain listing circumstances. Comments?
let it go and unless the applicanes are key to your deal get new ones get newer used ones and you will be no where near $5K unless they have a Viking stove and that is part of your appeal to the home.
I agree 100% with Larry if they signed an agreement then legally they can not take the appliances unless you let them or there is a new contract written.
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I would not go back to Countrywide unless it was my last resort but in my opinion you need to be willing to lose the deal to pursue both the realtor and Countrywide so you might want to change your expectations.
Although this sucks, I would be more concerned with whether the sellers are going to agree to sign a promissory note. If they are not, then you have a VERY little chance for a successful short sale.
First, in my experience, Bank of America (Countrywide) is probably going to want the sellers to sign a promissory note in lieu of a deficiency. It will look really bad if the sales contract is amended because the sellers want the appliances. The negotiator will probably try and eek out that price difference by adding it to the amount of the promissory note that BOA will require.
Remedies include: 1) Not removing the appliances. 2) A cash contribution at closing from the sellers for fair value of the appliances 3) Commission deduction from the listing agent to cover cost for replacement of appliances 4) or a reduction in the offer amount
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