Thinking About Selling Your Home To Zillow? DON'T!

I'm in the middle, well almost at the end, of an escrow. We were scheduled to close tomorrow, 8/19/2021. Were being the key word.

There is a chain of transactions. There was only supposed to be two, but Lo & Behold, there are three. And, the third one is a Zillow home purchase. Zillow is purchasing the furthest buyers home....now.

I'm representing one seller, our buyers are selling their home to buy ours. Their buyer came in non-contingent and was to do a bridge loan with a local lender. That's the way the contract read.

Back in the old days, people changed their financing so much that the California Association of Realtors added a paragraph to the CONTRACT (people take the purchase agreement so lightly, but it is a contract people) that the stated financing was exactly what was going to happen. Well, that's what it says in layman terms.

So, late last week, the other listing agent and myself find out that those buyers are in fact not doing a bridge loan, but are selling their home to Zillow. Well, it actually turns out somehow Zillow is selling it to some buyers. Yes, Zillow can do that now.

This is in fact a breach of contract, but we just want to close, so we're kinda stuck now!! 

So, here we are, a day before closing and the Zillow sale is mucking up everything. The people over there don't know what they are doing, they didn't even seem to know about our escrow. The sellers of the home are befuddled with the poor online contract system. Kept getting booted out of the Zillow program during an important phase of the process. The Sellers agent that is representing them in the purchase is not part of the Zillow mess so the homeowners are basically trying to tackle it on their own.

AND, our poor escrow team is busting their hump just trying to communicate with the Zillow peeps to get everything squared away....and Zillow is a mucky mess. A very yucky, mucky, mess.

And, of course, due to the delay, our buyers had to reschedule their plans for moving into my sellers home. 

Listen to me when I say this! Oy, Zillow = NO.....again!!!