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I am selling a home and have a person interested but he has been asking for all kind of documents and papers, for at least 5 months now. I wonder if I need to charge him something in order to secure the sale? I am afraid he is wasting my time and will walk away at any time.
Is your house listed on MLS or are you selling it FSBO?
Or is this a crazy specific rural property?
You can of course respond with:
"If you'd like the remainder of the information, please place your purchase offer in writing. I am willing to give you a 10-day due diligence period (or whatever is customary in your market). I'll consider this offer when accompanied by an earnest money deposit of X% of the offer price."
That's the nice way of saying poop or get off the pot.
I am selling a home and have a person interested but he has been asking for all kind of documents and papers, for at least 5 months now. I wonder if I need to charge him something in order to secure the sale? I am afraid he is wasting my time and will walk away at any time.
You have a written offer or is this just a guy that’s kicking tires?
Make him put something in writing or tell him to move on. Unless you have a written offer with timelines and clauses etc. I wouldn’t lift a finger to provide any info.
You have a written offer or is this just a guy that’s kicking tires?
Make him put something in writing or tell him to move on. Unless you have a written offer with timelines and clauses etc. I wouldn’t lift a finger to provide any info.
At 5 months the guy is just keeping you on the back burner until he gets all the info and then will make you a screwy lowball offer then try to beat you up with your own info you provided. Like TX said. Put up or shut up.
In real estate there is a reason verbal is right up there with nothing. Because as far as anyone is concerned it means nothing. That’s why verbal offers are basically worthless and meaningless in pretty much any situation that matters. Imo any agreement or offer of any kind for any item be it real estate or borrowing money from a friend should be in writing with whatever terms are agreed upon. Anything else is lip service
Who else do you have to talk to? No one at this point?
I would keep talking, but would also suggest immediately marketing the property aggressively to get in front of any other buyers.
The real knack is to keep conversation alive until you find a better alternative or reach a meeting of the minds.
Sure, you need to guard your time a bit, but if you are really ready to sell, how much time does it really take to provide documents you should already have available? If it is taking you a ton of time, you need to be better organized for the market, perhaps?
So this guy shoots you an unacceptable offer?
If he wants it and can pay you an acceptable price, he will. If he doesn't, what have you lost if you have no one else to talk to?
So he comes in at 60% of what you want? What does it cost you to counter, while shopping for other buyers?
Nothing.
5 month on market - what is the average sales to contract time in your area?
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