The Agent Did WHAT?! (True-ish Story)
Sarah, one of our newer agents, had a great contract on a beautiful home in Mount Pleasant. Full price. Strong earnest money. Everything looked smooth.
Day 7 of the 10-day Due Diligence period, the buyer called in a panic: “We found some issues with the HVAC and need a few more days for a specialist to come out.”
Sarah, trying to be helpful, replied: “No problem at all — I’ll take care of it. Don’t worry, we’ll just extend Due Diligence.”
She never sent a written amendment. No Form 390. Just a verbal “I got you.”
Fast-forward to Day 11. The seller’s agent called: “Sorry, Due Diligence is over. My seller is terminating the contract.”
The buyer was stunned. “But Sarah said it was extended!”
Too late. The seller stood firm. Earnest money was at risk. Attorneys got involved. Everyone was pissed. The deal died an ugly death — all because there was zero paper trail.
What Went Wrong (Form 310 Edition):
- Section 8 (Due Diligence) clearly states any extension must be made in writing and agreed to by both parties.
- Section 27 (Notice and Delivery) + Section 29 (Expiration) hammer home: Everything important must be in writing.
- Verbal agreements are worth exactly the paper they’re written on… which is none.
The seller was 100% within their rights to terminate. The buyer lost the house and almost lost their earnest money.
