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I finally found the house I wanted to buy. My offer is as clean as they come as I am cash and 30 day close. The owner (agent as well) & I agreed on a sale price and my agent sent over the contract but the owner refuses to sign. Apparently the owner is still looking for a new house and wants me to wait until they get themselves squared away under contract before signing my contract. The owner did remove the listing from MLS while this is going on but has refused to sign my contracts.
I finally had enough and said I am thru after screwing around with this for a week. I just cannot believe a seller is going to let me walk away when here we agreed on the price and I have no contingency issues other than inspections. Man real estate is nutty....I was telling a friend about this and they were like are they nuts??? Letting a cash buyer walk.
It just sucks because I really wanted the house & by the time this person if ever get's their sh*t together I will be gone......I just can't believe how close we were & yet the seller blew me off. Oh well I'm sure some seller will be happy as hell when I show up.
In your case, a cash offer with a 30-day close wasn't advantageous. It forced them to realize that they would be homeless if they didn't quickly find a house...and that would probably take more than 30 days to close (unless they, too, can offer cash for their next house).
But, I must say, if it's only been a week it doesn't sound like you really wanted the house as much as you say you did.
Actually I extended the closing to 45 days and even my agent was willing to forgo some of her commission to make the deal go thru. It was a very strong offer given some of the deferred large ticket item issues looming.
The issue with this seller is that they are just starting to put a contract on a house which they have offered a low ball so am I expected to just sit and wait for them to find a house?
I do truly want the house but I am under a time frame as well and needed an answer as to whether they were going to sell or not. There has been other jerking around with this before we even got to an agreement. After a formal offer was made then seller stated they wanted to take certain attached items out of the house. This should have been mentioned before an offer is made or on a sellers disclosure.
In your case, a cash offer with a 30-day close wasn't advantageous. It forced them to realize that they would be homeless if they didn't quickly find a house...and that would probably take more than 30 days to close (unless they, too, can offer cash for their next house).
But, I must say, if it's only been a week it doesn't sound like you really wanted the house as much as you say you did.
I guess I'm not understanding the strategy of putting your house on the market while not having another house in place? This seller owns the current property outright so it could potentially be a cash buy for their end as well in a dual closing.
It just seems like a lot to expect out of buyer to wait around until the seller has located, negotiated a house. And here's a question, let's say the seller finds a house and is under contract, they sign my contract but then on their end the inspection on their new house has issues? There are numerous risks and leaps or trust in real estate transactions.
Maybe the seller will find a house and make an offer and the seller of that house will not sign because they want to find a house first.
Fortunately, the house the seller is wanting is vacant but apparently there are some issues as that seller has "port" their second loan?? Not exactly sure what that means but there is an attorney involved handling the transaction.
But great point Beezle1!
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