My question involves real estate located in the State of: Florida
I am on R&R from IRAQ, my wife and I had been looking at a home on MLS for 3 months, made appointments to see one home we really liked. We made an offer and a contract was created at my offer price. We paid escrow, inspections, appraisals and everything was going well until the appraisal came in 7k lower than the offer price and of course the mortgage will only commit to the appraisal price. The realtor went back to the seller with the information and the next thing I recieved was a form to sign for cancellation of the contract and a message they are taking the home off the market. What makes this even more stressfull is that I am headed back to IRAQ in 2 days and the home we currently are renting in MD is packed up and ready to be moved to FL. We have pushed out several thousand dollars in moving and airfairs to move my wife and home. I at this point am refusing to sign the release even though they want to back out of the deal. I recieved another e-mail stating that the sellers need 24 hours to make a decision since they are attempting to purchase a home in Mississippi and wont know if they have the home until then. I think due to the failing market they never thought it would sell as quikly as it did since most homes in that same area have been listed for 6 and more months. Personally I dont care if they do not have a home purchased, I only care that the date of Aug 28th which is closing we will be purchasing this home. My wife has POA since I will be in IRAQ and I hate to leave her with all of this. I told the movers to move regardless and wife and kids to go to FL since we have relatives there.
There is nothing worded for a contengency of the sellers being able to purchase a home or not on the sale. Obviously if they do not come to closing on the 28th then they will be in breach. I know I can get my escrow, however can I also get the funds for the inspections, appraisals, moving expenses and plane fares as well as pain and suffering since I am leaving this to my wife to deal with. I also do not feel that our realtor has been honest with us on this and knew more information then she was providing to us.
Any suggestions will be appreciated.