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Old 12-20-2018, 02:20 PM
 
1,891 posts, read 943,267 times
Reputation: 3976

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Quote:
Originally Posted by Piney Creek View Post
Might not be the issue if it's an inherited house, but for some sellers, a long closing keeps you from needing to move into a motel for an interim time. I've known a few people this has happened to, there are lots of reasons this can happen. And just because an agent told you someone whats to be rid of a house doesn't mean that's true or that they don't have personal reasons they need to hold off on closing (kind of surprised an agent would tell you that, BTW). I just inherited a house, and the process of trying to sell it has some personal complications from family members. All sorts of things can happen when you inherit something.
I guess I wouldn't know. We always have a spare property to move to when we sell so we don't have to be disrupted and the house always looks perfect. Seems like if you need that much time to get your ducks in a row you probably should wait to put the house on the market in the first place.
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Old 12-20-2018, 02:24 PM
 
Location: Bloomington IN
6,052 posts, read 7,276,492 times
Reputation: 14557
Quote:
Originally Posted by emotiioo View Post
I guess I wouldn't know. We always have a spare property to move to when we sell so we don't have to be disrupted and the house always looks perfect. Seems like if you need that much time to get your ducks in a row you probably should wait to put the house on the market in the first place.
You don't know that the longer than normal closing was on the seller's end. It could have been on the buyer's end. They maybe moving from elsewhere and started to look early or a job transfer wasn't happening for several months. They may have had a house to sell. They may have been waiting for an inheritance. There are multiple reasons for a buyer and a seller to have a delayed closing.

Don't assume it was the seller. If he was anxious to sell it probably was not.
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Old 12-20-2018, 02:33 PM
 
Location: Williamsburg, VA
2,001 posts, read 931,379 times
Reputation: 4396
Quote:
Originally Posted by emotiioo View Post
Seems like if you need that much time to get your ducks in a row you probably should wait to put the house on the market in the first place.

LOL I was wondering how long it would take to get to a judgemental remark. BTW, before you get too caught up in disdain, remember that you have no idea what the story is, who asked for the time, or if it has anything at all to do with "getting ducks in a row."
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Old 12-20-2018, 02:39 PM
 
Location: Northern Virginia
4,779 posts, read 4,977,902 times
Reputation: 11491
Quote:
Originally Posted by emotiioo View Post
I guess I wouldn't know. We always have a spare property to move to when we sell so we don't have to be disrupted and the house always looks perfect. Seems like if you need that much time to get your ducks in a row you probably should wait to put the house on the market in the first place.
Careful. Your elitism is showing.

Not everyone has a "spare property".
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Old 12-20-2018, 03:02 PM
 
1,891 posts, read 943,267 times
Reputation: 3976
Quote:
Originally Posted by Piney Creek View Post
LOL I was wondering how long it would take to get to a judgemental remark. BTW, before you get too caught up in disdain, remember that you have no idea what the story is, who asked for the time, or if it has anything at all to do with "getting ducks in a row."
Why am I seeing your posts again? I thought I had taken care of that...
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Old 12-20-2018, 03:06 PM
 
1,891 posts, read 943,267 times
Reputation: 3976
Quote:
Originally Posted by rrah View Post
You don't know that the longer than normal closing was on the seller's end. It could have been on the buyer's end. They maybe moving from elsewhere and started to look early or a job transfer wasn't happening for several months. They may have had a house to sell. They may have been waiting for an inheritance. There are multiple reasons for a buyer and a seller to have a delayed closing.

Don't assume it was the seller. If he was anxious to sell it probably was not.
I'm not. I kinda feel like it might be the buyer because of some of the information we got. They had put in an offer on the house and the seller rejected because it was low and contingency. But they came back again after we were mulling it over. We didn't want to deal with a multiple situation so we just didn't do anything. I think they might have been struggling with the financing. But would a seller really wait for 200 plus days?
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Old 12-20-2018, 04:38 PM
 
10,486 posts, read 6,804,331 times
Reputation: 11136
Quote:
Originally Posted by emotiioo View Post
We looked at a house and wanted to make a low-ball offer at about 25% below asking. We didn't bother even though it seemed fair because we thought it would be a waste of time. But we kept watching it. It was contingent for a bit and went under contract. From there it was over 200 days to close.

What would take so long to close? I've never had anything drag on longer than 90 days. Title issue maybe?

It sold at EXACTLY what we would have offered btw!
It could have been contingent of them finding another home first. In which case a bank (lender to the person buying it) would not hold out a loan that long so it would have been cash or the rate would have gone up that's my guess.
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Old 12-20-2018, 05:25 PM
 
Location: Columbia SC
8,140 posts, read 6,958,636 times
Reputation: 10915
In one sale I was offered full asking price but they wanted a 150 day close for various reasons. I had my lawyer run credit checks on them and they were golden. Got a 20% non-refundable deposit and we moved forward. The longer close actually fit my plans so a win,win for the both of us.
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Old 12-20-2018, 06:40 PM
 
Location: Virginia
3,542 posts, read 1,727,313 times
Reputation: 9498
Quote:
Originally Posted by emotiioo View Post
I'm not. I kinda feel like it might be the buyer because of some of the information we got. They had put in an offer on the house and the seller rejected because it was low and contingency. But they came back again after we were mulling it over. We didn't want to deal with a multiple situation so we just didn't do anything. I think they might have been struggling with the financing. But would a seller really wait for 200 plus days?
For someone who didn't want to deal with any hassle, you sure have a lot of curiosity about a done deal. Sounds like sour grapes to me.
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Old 12-20-2018, 07:46 PM
 
1,891 posts, read 943,267 times
Reputation: 3976
Quote:
Originally Posted by Bungalove View Post
For someone who didn't want to deal with any hassle, you sure have a lot of curiosity about a done deal. Sounds like sour grapes to me.
It was too far out of the area where we live now and the market was iffy to invest in, but I did like the house. I often follow properties we looked at to see what they sell for. It's not sour grapes at all as we ended up going with something totally different that we are almost ready to launch. I just keep an eye on certain areas and watch properties to get a feel for the trends there. It's what investors do.

I almost feel like we might have dodged a bullet if there was some kind of serious title issue or a bunch of repairs that pushed out closing. It was on 6 acres with septic and a well so I also wonder if that needed to be redone. I know that can take a while with all the studies, etc.
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