Bobbie's Pocono Real Estate and Tidbits Blog: Disappearing Buyer

I've never had anyone that disappeared while under contract like this.  Has the attorney contacted him to let him know that he could be sued for specific performance?  It's possible, if the closing date hasn't been reached yet, that he is just all packed and away from his phone, and hopefully will pop up soon!

Get the advice from your broker asap.  I had one disappear on me and I was the buyers side.  She was a relo and simply disappeared.  I only had her cell ohone and she shut it off.  Sadly, my broker had not informed me the EM, which was a wire, never hit the account, and I didn't check to make sure it had arrived. Stupid!

I ended up having to pay the $5k in EM to the sellers!!!

And certainly, make sure you keep the sellers informed of your efforts.  Don't let yourself get blamed for the problem.

Good luck.

I like Keith's suggestion about approaching your broker and especially keeping the sellers informed.  At this point I would used certified mail for all correspondence and would start by sending a letter to every known address for the missing buyer.  Also, keep very detailed notes concerning all developments and phone conversations.  Protect yourself by assuming this case will result in litigation and act accordingly. I've had similar problems on the sellers side.  Once or twice I had a seller die and had at least one seller disappear.  Specific performance is always an option, but is sometime a practical impossibility due to cost considerations and other factors.  Good luck on this one, it's a tough situation. 

Thanks everyone. Appreciate the support. Will let you know how it works out.

When the contract expires I bet they reappear when title needs a signature for EMD release!

Funny, Renee, you are probably right on the money with that comment.  All of the sudden, it will be "What, you couldn't reach us?  We were here the whole time?  There must be a problem with your phone.  We were wondering why you didn't try to call us, etc. etc. etc." 

I have done enough collection work to know when I am being avoided.  You need to proceed formally at this point and in accordance with the express terms contained in the contract.  If there is a deposit, take formal steps to seek to have it forfeited.

Document the times/dates of your phone calls in your file or in your database.  We ended up in court for a similiar situation and our written record played an important part for one of the parties.