I was the Buyer's Agent for a transaction last month and the seller accepted the offer that was thousands below listed price because we had a qualified buyer who was going to settle quickly.( 3 weeks)
The settlement was to be on a Friday. A week before settlement, the mortgage company said it might have to be postponed to Monday. I called the listing agent to have the seller sign an addendum extending the date. The agent said the seller was having second thoughts and would be more than happy to give back the deposit . He said the seller was having , "Seller's remorse."
I have been licensed since 1992 and have had atleast four or five instances where the date was postponed at the last minute and the seller never objected.
If you are in a situation where you may have to extend the date, please do not assume the seller will agree to extend the date. You do not want to be without a contract.
We called the mortgage company again and miraculously they got the paperwork in time so we could close on friday.
When you read about events please check the year for the event as some people find information a year later and think it is for that year. . The posts remain online even after the event.
Gita Bantwal is a Realtor with RE/MAX Centre Realtors in Bucks County, a Northern suburb of Philadelphia. You can view 1000s of listings on her web site www.GitaBantwal.com
She can be reached at 215-343-8200x124 or direct 215-275-8491 or via email firstname.lastname@example.org
If you would like a FREE MARKET EVALUATION OF YOUR HOME IN PHILADELPHIA, BUCKS or MONTGOMERY COUNTY call me at 2152758491
Gita specializes in Active adult communities and is a Seniors Real Estate Specialist. She holds the ABR designation (Accredited Buyers Representative) and specializes in selling to first time buyers as well as move up buyers.Gita also hold the CRS designation , Certified Residential Specialist and the CDPE designation as well. Information about real estate market is deemed to be correct but is subject to errors and omissions and should be verified independently.. Opinion expressed by me or others in my post and comments is not to be construed to be legal advice.I am licensed in Pa. Check real estate laws in your state as they may be different than in Pa.