Real Estate Rapture

With the market being the way it is we have represented a few buyers that have homes to sell in other cities, but they have to move here right away because of their jobs.  So, we looked at many homes, found ones that were awesome and made offers contingent upon the sale of the out-of-town homes.

In the three cases I'm referring to each buyer was able to take possession of the home right away and pay rent while waiting for their other homes to sell.

In two of the three cases the sellers have now come to regret agreeing to all them early possession.  Their regrets stem from the fact that the out-of-town homes still haven't sold.  So that means the sellers can't get their equity out of the homes that the renter/buyers are in.  Not only that, but in one case the sellers actually have a higher payment on the house than the renter/buyer is renting it for, so it costs them money each month while we wait for the out-of-town home to sell.

My point is if you aren't happy with the terms a buyer offers and you can afford to wait for a better offer, or if you're unsure of the terms you're agreeing to, then either reject the offer or get legal advice to interpret the ramifications of the contract before you sign.

My renter/buyers still want the homes, and they want their out-of-town homes to sell just as much as the sellers here do.  I believe we will have happy endings in all three situations, but some aren't happy right now and that's unfortunate.

If you need good advice, we're ready to listen.

God is good!