There are no such things as a Do Over! Buyer decides they don`t want to close.

Buying a home has certain responsibilities attached to it.
When a contract is executed there is a commitment from both "Buyer and Seller".
The purchasing of a home shouldn't be taken lightly, like anything else in life there are certain ramifications that can occur.

Last night I received a call from an agent who`s client no longer wants to purchase a home.
The closing is set for this Wednesday, the seller`s are all set to vacate on Tuesday.
It`s hard to comprehend why the buyer doesn`t wish to pursue.

It seems the buyers located a home in another area of Broward,County.
They believe they can walk from this contract and be given their $5000 held in escrow.

The buyer`s agent wanted to know if the seller`s will simply release them from their commitment!
I spoke to the buyer`s agent and expressed the importance of having an "Executed Contract". They seemed to understand but, felt the buyer`s shouldn`t be penalized for their actions.
The buyers liken this procedure of buying a home to going to Target and receiving a credit if you don`t like the item you`ve purchased.
They feel buying a home is similar to just going to a cashier and asking for a refund "No questions asked'.

It`s always amazing how people think. In reality the buyer`s will be in default.
We`re looking at this as if we don`t close on Wednesday we`re filing for the escrow deposit. There are no Do Over`s in buying a house.