We have agreed to purchase a home in Texas for 119900. We where going through "in-house" financing through a builder. We have EMC and purchase agreement. The house was not built by the builder but a forclosure they aquired. We go back as far as October on the contracts. We where going to close tomorrow but the company rep called and said the house was priced wrong to begin with and is now telling us the price is now 159,000 and if we still want to go through in house financing we will have to accept it because the accounting dept. will not allow the sale for $119,900.
The original rep I was working with left the company tuesday and called to let me know what they where going to do, but the new rep says he did not find out about it until today.
Can I force the sale at $119,900. He says I cannot do in-house at that price but could do outside financing. Our credit is not good enough for outside financing.
The appraised value per appraisal district is $127,000 and there is the exact same home one street over listed for $119,00. We really want the house but not for $159,000
I also have pre-approval letter from in house lender with price listed