Blownup into a Nightmare

Things have blown up into a nightmare recently.  Yesterday I got an email from my agent that my buyer decided to back out because I wouldn't do more of his replacement/repair list.  I felt we didn't need to do any of them since his repairs didn't exceed the discount he got.  The difference in list price and what we agreed to was more than enough to cover his repairs.  We figured he must have changed his mind and wanted out of the contract and the best way for him to do that would be to make unrealistic demands of things he wanted me to replace.  He already lowered the price for the fuse box and we already lowered it for the deck, but then he demanded we replace both which was double dipping.

This has been devastating for our Ryan Homes transition.  I spent yesterday trying to arrange bridge financing that I skipped doing since my agent assured me this deal would go through and we had plenty of time.  It turns out that a bridge loan takes as long as a regular mortgage of 1 month and we have like 18 days.  The logical thing to do would have Ryan Homes just push back closing a week to give us time to get a bridge loan in place....sadly they seem reluctant to do so.  This is rather odd because our sales person told us Ryan Homes can be flexible within a month of a completion date.

I learned yesterday that Ryan Homes will charge you 1% of the home value for each month you push back the closing.

We are faced with a horrible situation of either try and get Ryan Homes to push back a week so we can arrange a bridge loan or drain our retirements and take a worse rate to keep the closing date.

If you have been following my blow, you would know that our realtor has been horrible.  She didn't price the house correctly or do any deep market analysis.  She has not worked any of our open houses and Caldwell Banker only provided an agent for the first open house and we worked the rest of them.  Caldwell didn't give us any advice like get a pre-inspection and appraisal, and our agent only told us to restain the deck as the only repair.  While our buyer is the one who screwed us, our agent's empty promises and careless approach to selling our house lead us to where we are today.

Hopefully today I can find a solution to this mess.