Just Canceled My Resale Contract

[Sandisw]

I am surprised that Disney or the broker did not catch this as they are supposed to get a verification form that details everything.

When I sold last year, I had banked some points in to the next UY, but when we listed the contract, I just total the agent the total available. I got a call a few days later that we had to sign an amendment listing that those points were banked.

If it was me, I would have canceled as well and looked for another deal, if for no other reason but the simple fact that the sellers were not upfront. I am sure they would have found a buyer for the contract with delayed closing, and you might have been fine with it had you known.

While it will take you just as long to go through the process with a new offer, the sellers also now have to go through the hassle of putting it back up, etc. so they may find a further delay in getting it sold.

 

[Crystal_27]

If the points that family were using were not part of the contract, and you were not in a hurry to make a reservation - I don't see what the big deal is

Yeah, I'm kinda with you, Lauren. As long as the points were not included as part of the listing, I feel like its "no harm, no foul." I'm not saying that I personally would not have disclosed it, but since it didn't materially affect the listing (or if you really didn't need the points right away), again, as a purchaser, finding out this news probably wouldn't have really bothered me, especially if I felt like I got a good deal.

Either way, though, it sounds as if the OP has been made whole and hopefully her next resale will go smoother.

 

[njanimalkingdom]

If I would have known from the beginning that we had to wait until closing I probably would have been okay with the purchase. What really bothered me was we received the closing docs on Friday no mention of any issues with closing. I wired the money at 3 PM Tuesday and Wednesday AM I get an email that the seller has an existing reservation. The seller probably got closing docs around the same time as us and could have notified the Realtor on Monday or Tuesday. The seller obviously knew about it and who knows if the agent knew. I just felt somewhere along the line someone wasn't being honest. The contract does state if buyer canceled the deal because the seller could not close the seller would be responsible for commissions and fees. I stated I would take a discount to delay closing seller said no. In my eyes the discount I was asking for was probably less than the commissions they would have to pay as a penalty. This leads me to believe the Realtor may have made a mistake along the way and was not making the seller pay a commission for a no sale. Either way would note use or recommend the Realtor.

 

[Greysword]

In today's market with all of the contracts listed, I think the seller made a big mistake. I would have felt slighted in this situation, as well, and I think you are right in canceling. There are tons of contracts out there, and you will likely find one just as good (or better) quickly.