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If you have contract but do not want to move during winter time, can you request to delay it to the seller?
I believe most sellers want to close within a month but since there is snow and cold weather, you might not want to move within 30 days.
Also you might not be able to rent your house during winter time so you will be losing mortgage money while one house is empty until rented.
Should you write up the contract to be in the winter time or would it be better to request for 90 days after signed contract?
It depends on whom you are dealing with, but as a seller in this market, I know I want to close on the sale of my house ASAP. It doesn't matter if I have a place to move to or not. Extending the contract to accomodate something like this only poses more of a problem to the seller than already exists in case the deal falls through at closing.
As a seller, I have a huge fear of a deal falling through - if it falls through, there goes 4 - 6 weeks (or however long!) of lost market time. Just my opinion though!
There are some days in the winter that are bad weather days. There is not a 4 month period in the winter where every day is bad. Just don't move on those days.
This is Foreclosure house on a busy street/highway. I might be over paying since I added 20% from asking price.
The bank will not delay closing because of weather.
In fact, take a look at your addendums. I would bet that there is verbiage in there that states you'll be charged a daily penalty for every day you don't close past the scheduled closing date.
This is Foreclosure house on a busy street/highway. I might be over paying since I added 20% from asking price.
Why would you offer 20% MORE than the asking price on a foreclosure on a highway in this market?? You stated earlier that no one else is knocking on their door making offers. I would have offered less than asking price and have gone from there.
The bank will not delay closing because of weather.
In fact, take a look at your addendums. I would bet that there is verbiage in there that states you'll be charged a daily penalty for every day you don't close past the scheduled closing date.
Chuckity is correct. The bank will want as short a closing a possible, likely within 30 days of their acceptance, and charge a penalty for delays.
Why would you offer 20% MORE than the asking price on a foreclosure on a highway in this market?? You stated earlier that no one else is knocking on their door making offers. I would have offered less than asking price and have gone from there.
That is due to the bank lowering the price about 100k from original price.
We put essclation clause but they wanted solid numbers and told me they had multiple offers. I am not sure if they did or not but I had to increase the offer since it seems like it is still under valued.
Chuckity is correct. The bank will want as short a closing a possible, likely within 30 days of their acceptance, and charge a penalty for delays.
If I decided to back out of the deal, that willl put them out longer. Isn't it wise for them to accept the delay?
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