True Tales of Key West Real Estate in the Time of Corona Virus - Part Eight

This is a true story.

I had to wait a few years before writing the story because I did not want  any reader to figure out the location of the house about which I am writing.

My buyers were an older couple who told me they had only bought three homes in their lifetime. This would be their fourth purchase but still be a "second" home. They wanted a place with ultimate Key West charm. 

I found my buyers four or five places to look at. A cottage with story book charm caught their attention. We returned for second and third looks. My buyers decided to buy a little gem.We negotiated a deal that included most but not all of the furnishings. My buyers went back up north to their primary residence. I coordinated a home inspection and showed up at the appointed day and time. I arrived a few minutes early and saw the home inspector exiting the gate while the listing agent stood on the porch.

I got out of my car and approached the inspector and asked if I was late. He said something like "The seller decided not to sell." By that time the listing agent left the porch and came out to discuss what happened. She was distraught. She said the seller just just called her to tell he changed his mind - that he acted in haste in listing the house and accepting a cash offer with a quick closing.

I was shocked. This had never happened to me. We had a signed bi-lateral contract with a $100,000 escrow deposit in the escrow agent's account. My buyers could sue. But they just wanted the sweet home they fell in love with. I exchanged words with the listing agent but not words of threat. We both agreed that the seller was acting irrational. I suggested she give him some time to chill and reflect and then point out his legal jeopardy. 

Later I called my buyers to tell them what had happened. They agreed not to agitate the seller. The listing agent called me within one or two days and said the seller was very apologetic and offered to pay whatever costs the buyers had spent to get to the point we were at. I reminded her we had a binding contract and said ,y buyers could sue to enforce it. She agreed. I asked her to go back to tell him thanks but no thanks - my buyers insist that he close. She did and called me back again. This time she said he apologized even more and explained in detail the emotions that led to his conduct. But this time he agreed to close. 

We got the home inspection completed. The house was in perfect condition. The buyers accepted the property after inspection. We closed soon thereafter.