Well as most of you know we had a second offer withing three weeks of the buyers backing out of our first offer. We were supposed to close on July 12, however.... the buyers of our "buyers" fell through. The bank refused as it got closer to closing. So we are still in a contract with Buyer #2. They were heartbroken and want our home. We extended the contract with a kick out clause. They relisted their home at a lower price. Please keep us in your prayers. CJO how is your sale going?
When we got an offer on our home in May, the buyers wanted to add a contigency based on them selling their home. We rejected the offer and they removed the contigency. We didn't want to end up in your situation.
I'm sure that makes glider feel much better...
Sounds like the bank won't qualify them with their current house payment and the proposed house payment, as their property has not sold.
While the buyers really love your home and you are praying for their sale, you could be in store for a long wait with that contingency. Remember they have to close on their existing house, and their buyer will have to go through the process of home inspection, appraisal and qualifying as well.
Hope your Realtor has done alittle research..their home listed on MLS,
not overpriced for their marketplace, in decent condition...etc.
Sending good thoughts!
Glider good luck....a ton of homes have been sold with what is commonly called a "72 hour contingency" here. Meaning the buyer has a house to sell and we agree to their terms but if another buyer comes along that can perform we will put them on notice. It has traditionally worked well especially if your agent stays on top of things.
Good Luck!!!! Hoping things move forward for you!
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