Episode 3, More Aggravation...

I inform my agent that I am willing to try again with the free spending buyers, since he assures me that he has got them a new loan. HOWEVER, in order to sign an extention to the closing date, I insist that the agent write into the contract that if we do not close the sale on the new closing date FOR ANY REASON, I am to immediately receive the $5000 earnest money, mine to keep. Agent says he does not think the buyers will go for it, I tell him I am not signing otherwise, I am sick of playing with these people. If they want me to keep the house off the market for another 3 weeks during a time of falling prices, they are going to compensate me if they fink out. He hustles out to deal with the buyers, and shortly later he tells me that they have agreed. Then, I ask him to get me a letter from their lender saying that they have got the loan for sure ( I am no longer taking anyone's word for anything, if the buyers say it's raining, I am going to check the window). He email me the lender letter, and I am very surprised to see that the buyers are taking an adjustable 2/28 (this means that the interest rate stays artificially low for the first 2 years, then adjusts SHARPLY upward) 1st mortgage of $389,000 at 7.99% and a 2nd BALLOON Mortgage for $88,000 at 10.99%!!!!! These are AWFUL terms, I would not buy this house with that kind of a deal. In order to get the loans, they also had to have their wife's mother sign in on the deal, and now she is going to live with them. Hmmmmm..... The next day, the agent calls to tell me that the buyers have plans to go out of the country for a while, they have given the mother-in-law power of attorney to sign the sales contract, but that they want to have the Pre-Settlement Walkthrough today. We agree, and go hang out in the back yard while the buyers and their agent "walk through". They do not speak to us at all while they are in the house, although Gus goes in and tells them that we are in the backyard if they have any questions. AFTER they leave, we get an email from our agent saying that they claim that the garage door is not working correctly...