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We put in accept offer and signed it Friday Dec 1, 2017 with…

Customer Question
We put in accept...

We put in accept offer and signed it Friday Dec 1, 2017 with our earnest money. The offer was accepted. The house seller signed the form along with the realtior. We have until 3/30/2018 and selling our current home to buy the home. On Friday Jan 5 we recieved a WB-41 form stating we have three day to decide what we want to do. Because someone else wants the house? The dates on the WB-41 form are 11/27/2017-accepted 12/29/2017 and resigned-Galvin Bros real estate 1/5 and 1/6/2018 and the owner 1/5/2017. What does this mean? We have a sign contact, don't we until March 30, 2018?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

The home is in Wisconsin and we live in Colorado. That is why everyone agreed to the end of March because of winter weather. I have all of the sign paperwork.

Lawyer's Assistant: Has anything been filed or reported?

I don't know, we recieved this on Friday 5 (WB-41) and today Monday is the three day.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Is they anything we can do?

Submitted: 4 months ago.Category: Real Estate Law
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Customer reply replied 4 months ago
If, you need any of the signed paperwork I can send it.
Answered in 8 minutes by:
1/8/2018
Real Estate Lawyer: Barrister, Lawyer replied 4 months ago
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 41,655
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

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What is it exactly that they are giving you notice of on the WB-41?

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Did they change the dates that the offer was accepted by them... i.e. did they accept your offer on 12/29 or some earlier date since you submitted it 12/1?

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Do you have a copy of the contract signed by the seller that says you have until March 30, 2018 to close?

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thanks

Barrister

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Customer reply replied 4 months ago
On the WB-41 it states, Attached is a notice received and accepted another offer and we have 72 hours to remove contingencies and remain primary. The contingencies that would need to be removed are the sale of home contingency as well as the finacing contingency. Owner signed line 32 1/5/2018. Line 39 Matt Gavin, Gavin Bros 1/6/2017. I have no idea on The WB-41 were the signed dates on seller 11-27-2017 accepted December 29, 2017 Secondary offer signed GFalvin Bros 1/5/2017
We signed the paperwork 11/29/2017, and sent it e-mail after we finished signing it. We received it back, it was accept Friday Dec 1, 2017 along with Gavin brothers real estate taking our down payment.
Yes, we do have a copy of the contract signed by the seller that says you have until March 30, 2018.
Real Estate Lawyer: Barrister, Lawyer replied 4 months ago

Ok, that leads me to believe you had a "kick-out" clause in your contract that states that if they get another offer on the property, they can demand that you remove your existing contingencies or they can go with the new buyer. So they want you to remove your contingencies and basically commit yourself to the deal whether you can get financing or not..

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If that is the case, then you have to either remove the contingencies, or walk away from the deal and you get your earnest money back.

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This is kind of common where there is a contingency about selling a current house in order to be able to get financing for the new one..

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thanks

Barrister

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Customer reply replied 4 months ago
Thank you
Real Estate Lawyer: Barrister, Lawyer replied 4 months ago

You are very welcome. Happy to help any time, even though the news is kind of lousy..

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It was my pleasure to work with you and help with your question. If you ever need me in the future, you can post a new question with "For Barrister" in the title and the JustAnswer employees will get it to me.

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If you feel I have answered all your questions, I would very much appreciate a 5 star rating by clicking on the rating scale on your screen as that is the only way I receive credit for my work.

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Thanks much

Barrister

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Real Estate Lawyer: Barrister, Lawyer replied 4 months ago

Hello again,

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I just wanted to touch base with you and check in.

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Did you have any further questions I can help with?

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Thanks much

Barrister

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Barrister
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 41,655
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Experience: 17 years real estate, Realtor. Landlord 26 years

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