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December
4

Zillow Cancels 400 Zillow Offers Contracts Due to Closing Restraints

Hundreds of sellers awaiting new builds will have to sell their homes another way after

Zillow canceled contracts for closings set for late 2022 through its defunct iBuyer, Zillow Offers

 

After vowing to honor outstanding purchase agreements made through Zillow Offers, Zillow has canceled 400 of approximately 8,172 contracts with homesellers nationwide, the company has confirmed.  The news is the latest in the ongoing iBuying saga that began for the company in early November when it announced it would shut down its iBuying business.  The homesellers will receive compensation for the canceled contracts, which includes earnest money and a varying bonus for agreeing to terminate the contract by Nov. 30.  Over the past month, Zillow's stock has tumbled as the company faces continued public scrutiny and several securities fraud lawsuits due to Zillow Offers closure. The company opened on the Nasdaq at $53.61 per share on Tuesday, down from the previous day's closing price of $54.26.

  • Inman News, November 30, 2021
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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 08/17/2022. The listing information on this page last changed on 08/17/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of NTREIS (last updated Wed 08/17/2022 5:59:22 PM EST) or Permian Basin MLS (last updated Wed 08/17/2022 4:44:40 PM EST). Real estate listings held by brokerage firms other than RE/MAX DFW Associates may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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