17 Aug Sellers backed out at last minute
My wife and I were in Escrow buying a house, this would have been the first house I ever bought. We paid for an inspection and an appraisal. The sellers kept dragging their feet and trying to push back the closing date. We got them to fix some electrical issues in the house (imo should have been done before they even thought about selling). The original closing date was on the 15th of the month, we agreed to move it to the 22nd. They then wanted to move it to the 28th. We countered keeping the 22nd for closing and they could pay ~$70 a day for rent till the 28th. My thinking was incentive for them not to push back the date any further as we needed to move out of our rental before the end of the month. The 15th rolled around and they backed out. No real explanation given. Now we are out $1200 for inspection and appraisal. We got ernest money back but needless to say this left us very scorned. I dont think there is much we can do to get our money back. Kinda just venting here. Was that a wise decision for use to make (making them pay rent on their old house)? Does this happen often when buying a house?