So this blog post could be a lot longer than it is going to actually be, but I’m not in the mood for talking too much so I’ll keep it somewhat short.

Last week, on Wednesday we got a signed contract, though there was a stipulation in the contract that the sellers had until 5pm Friday to decide what they wanted to do about a house they were trying that was a bank owned home. Basically they had the option until Friday at 5pm to back out of the contract. Friday morning I got a call from our agent saying that they had decided not to back out of the contract. Natalie and I were thrilled, we finally found our home in Parker Colorado! Now the fun begins, planning how we are going to get moved.

We printed photos, took them with us to the 4th of July festivities we went to play at Saturday night. Sunday morning we get a phone call from our realtor. Bad news, the seller’s have had a change of heart, seller’s remorse, and they don’t want to sell the house! Our agent basically tells us that we are in the driver’s seat at this point, and we decide what happens next.

So right now, after almost a day of thinking about it, we’re going to keep on with the intentions of buying this house. That might suck for the sellers, but they should have thought of that before the listed it, countered our first offer, and agreeing to our second offer and signing the contract, or even when they had a chance to back out with the Friday 5pm deadline. I’m going to contact a real estate lawyer in Colorado just to make sure we cover our bases at this point.

Here's some of the text from the contract.

If Seller is in Default: Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received hereunder shall be returned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this Contract as being in full force and effect and Buyer shall have the right to specific performance or damages, or both.