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Old 05-05-2010, 08:10 AM
 
2 posts, read 2,161 times
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We are in the process of selling our house to a couple who have a non-occupant on the mortgage. The mortgage commitment date was 5/1 (1 day after the home buyer incentive expired). On the Wednesday before the commitment date, we learned that the non-occupant person on the mortgage lost their job and that they want to put a sister on in her place, but they needed an extension. Initially our attorney said we should not give an extension, and warned our real estate broker (without checking with us first!) that she should re-list the house on Monday the 1st. I flipped out, knowing that without the tax incentive, our house could be on the market for a very long time. So we agreed to extend to Thursday May 6th at 5pm. I guess my question is, is this enough of an extension? It took us 2 weeks for our commitment on the house we are buying. If come Thursday they still don't have the commitment, should we give them a second extension, but start to show the house as backup? What should we do?
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Old 05-05-2010, 08:18 AM
 
Location: NJ
17,573 posts, read 46,144,871 times
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I know a lot of buyers would not bother looking at a house under contract. Probably a waste of time.
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