Ever buy a house through a relocation company?

We are in the process of possibly purchasing a house where the seller has already moved, and a relocation company would technically be the seller. Our lawyer (DH's brother) is having such trouble with their contract, that basically does not cover us as the seller at all.

Anyone have any experience with this. We are worried we are going to have to walk away, and we love the house.

Re: Ever buy a house through a relocation company?

Dh and I were looking at a house in CT that was owned by a relocation company. We really liked the house but ended up walking away because they were being difficult. The relocation company had very strict terms that we were unable to meet. They wanted absolutely no contingencies. We are selling our house in Queens and did not want to get ourselves into two mortgages. Even though we had a signed contract on our home they didn't care. They wanted us to get preapproved for a 2nd mortgages and locked us in to a contract. I was hestitant to do this because I felt that the house I'm selling in Queens was worth 300K more than the house we were looking to buy. We were looking to buy the house outright with no mortgage. So even if the contract on my home fell through, we still had to buy the house.

The relocation company also did their own home inspection and would not release the results until after contract. We decided to walk and they ended up accepting an offer two days. My RE informed me that the people buying the house are ready to walk because the relocation company released the results of the inspection which showed high radon levels.

My RE informed us that relocation company usually offer good prices on homes and will continue to drop the price until it sells. Unfortunately they are very strict and do not budge.

Good luck. I hope everything works out.