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My house is under contract and the buyer's due diligence period should be over by Monday according to my calculators , which means only a couple more business days . I've heard of it happenening a lot of buyers trying to ask for credits for things during inspection, so just hoping this doesn't happen .
At this point I'm thinking no news is good news .
The total due diligence period is 17 days so I'm guessing the buyer has already done their inspections by now and has the results , I would think the appraisal would of already been done by now too .
What do you think? Most likely everything will be fine?
How do you not know if the inspection and appraisal have been done? They need access to the house, so sellers are typically notified in advance of their scheduled time/date.
Also, has your agent not communicated anything to you? If not, call him and ask him. He should know exactly what has been done and what is scheduled/pending.
How do you not know if the inspection and appraisal have been done? They need access to the house, so sellers are typically notified in advance of their scheduled time/date.
Also, has your agent not communicated anything to you? If not, call him and ask him. He should know exactly what has been done and what is scheduled/pending.
I should of been more clear . I'm not living in the home right now . House has lockbox on it.
No I haven't heard from the agent since the home went under contract so I'm guessing that means things are moving along and there haven't been any issues .
I would not assume no news is good news. They may be meeting with their agent over the weekend to review the report and figure out what they should ask for and send a response on Monday. Unless your house is in amazing shape and there's no chance an inspection found anything? But if it's an average house, there will be findings on the report and they will be asking for repairs or a credit. Or like Slytrix said, you are giving them an awesome deal and they don't want to rock the boat.
I would think "there haven't been any issues" yet is probably an accurate assumption, since you should have heard about any if there were - but as mentioned they still have a few days. However it could be possible things could be delayed. So while the buyer would lose any due diligence fees if they back out after that period, it doesn't necessarily mean everything is on track for closing.
Definitely check in with your agent though. Two weeks is a long time to not from your agent with a house that is under contract.
Oh you will here from them. Unless the house is worth more than you sold it for and they don't want to tick you off.
Monday is a long way from today
Have you asked your agent?
I feel they are getting a good deal . There were also multiple offers so they know that of course .
The listing says accepting backup offers too.
I'm not really wanting to give them a credit or discount since I spent some money on the house before putting it on the market too.
If they ask for repairs just say no and hope they don't back out.
Yeah it's in L.A and inventory is very low right now . That's what I'm hoping too .
It defiantly seems that having multiple offers and them knowing that would give some leverage at least.
I will check in with the listing agent if I don't hear anything soon .
I feel they are getting a good deal . There were also multiple offers so they know that of course .
The listing says accepting backup offers too.
I'm not really wanting to give them a credit or discount since I spent some money on the house before putting it on the market too.
It's your choice whether you'd give a credit, but if they want to, your refusal will let them walk. If you feel confident one of the back up offers will come through, then you are in a position of strength. If not, you probably will want to negotiate. Just because they ask for say $5000 doesn't mean that it's either $0 or $5000. You can counter with $1000 and maybe settle at $1500 or something, it doesn't have to even be splitting the difference. Just depends on how much they want the house vs. how much you want it sold.
But be careful about asking why they are asking for a credit or fix (assuming they do, of course!). Talk to your agent about what you would need to disclose if this deal falls through and you move on to a different buyer. If they say the roof needs replaced and you are now aware of that, you might have to tell a second buyer that, and of course they will want a credit or repair too.
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