Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I placed a bid on a home a week ago. Seller came back a day later with his lowest price, which was my highest and we agreed on this ($255,000). A contract was drawn up by my Realtor (someone I have used in the past twice and that I trust completely) and sent to Seller to sign.
Seller, has yet to sign. According to his Realtor, he works odd hours for one thing, and twice already I was promised that a signature was forthcoming. Last one was this past Friday evening. Saturday, I get news that the Seller now needs to discuss financing for his new home with his pension people (he needs to move due to ill family members coming to live with him from out of the country and this house is way too small for extra people to live with him and his family). What this had to do with him signing the contract, is beyond me - but, whatever.
I now have been promised once again, that tonight, the papers will be signed for sure.
I am getting the feeling that this person is dragging his feet, possibly waiting on a better offer although why he agreed so rapidly to my offer in that case is beyond me. Particularly since the house was only up for sale a week.
It's making me anxious, and sleepless to say the least
You might try giving a final date for signing after which you will cancel your offer. That might provide some motivation to get it done. We put expiration dates in our offers.
Honestly - my guess would be it sold faster than he thought it would and now may be panicking trying to figure out where he can go.
My wife and I are looking and this keeps going through my head. I don't want to carry two mortgages, but since our next home is our "forever" house (at least until retirement) we are being super picky and I worry all the time about if our house sells fast (or doesn't) what a mess we will be in since we don't see too many houses that we like.
Something's wrong here, if the seller wanted to sign, he would have.
If I'm the listing broker, I want it in writing - if a buyer's agent can't take the time to send me a 4 page Purchase and Sale Agreement, a copy of the escrow check, pre-approval and disclosures, than I just consider it feedback.
Actually I have had this happen. What happened for the seller is that we got an offer right away. He wasn't quite ready for it since I prepped him for a 9 month sale time, which was the average. It kind of threw him off guard and he got kind of paralyzed. Seriously, he couldn't make a decision.
The sellers were patient and gave him a couple of weeks to get his head screwed on straight and then we moved forward. Since this really isn't a voluntary move on his part, I can see that things are happening just a bit fast for him. Any way...that is what happened in my similar scenario. Maybe something similar is going on here.
Are verbal negotiations routine, in some areas of the U.S.?
Common here for negotiating the counter offers, usually after the first written counter by the seller. By then we each have a feel for what the other wants and we can work towards a compromise then put it in writing to finalize. It is very unusual to negotiate the initial offer verbally.
What do you have to lose by giving the seller a bit of time? In the meantime submit an amendment to your contract with a term of offer. That this contract will be void after a certain date. Sellers get sellers remorse many times more than buyers experience buyers remorse.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.