You're Fired!
Every once in awhile, especially in this market, a seller has one of those buyers that he just can’t deal with anymore.
Truthfully, you’ve lived in your home for years and years. Raised your kids in the home, did upgrades, had parties, had dogs tear up the furniture, sat around the table and had tea and coffee with friends on rainy days, gazed out the window. Your home has lots of memories in it.
You’ve done so much in this home and now…this home is like part of your life and you have a buyer purchasing it who will most likely change everything about it and tear up John and Suzy’s bedrooms.
Not only that, but they are hemming and hawing after the inspection and dragging their feet and they want everything repaired and credits.
These buyers suck.
You had other offers on your home. Can you kick the current buyer out and take one of those?
It is easier for buyers. As a buyer you have 17 days to walk from a transaction and honestly even after those 17 days it is tough for the seller to keep your deposit. California is not a buyer beware state.
So, what can you do?
Well, you can push the buyers a little. If you really want to move on with another offer, here are some tips that will help:
- Have your agent call all the buyers that had submitted an offer on the property to see if they are still interested
- Check the contingencies (loan approval, home inspection, title report, disclosures, appraisal) to see if the buyers are behind timeframes on completing them
This time period for a home seller is an uncertain time. The deal is not sealed until and unless the buyer signs off on the contingencies.
If the buyers won’t remove contingencies, it may be time to look for new buyers if they are dragging their feet and the request for repairs is unmanageable.
A Notice to Perform can be sent from the seller to the buyer to cancel the escrow, and you can begin marketing your San Diego real estate!
