The Clark Family
Buying houses really stinks. We just found out yesterday that a the house we are to close on in two weeks just got another offer. The current owners haven't officially accepted the offer so the 48 hour clause has not kicked in yet but if it does I am afraid that we will loose the house. If that happens, we won't be able to sell our house and the whole deal will fall through. If our buyer can get their financing together (today!!!) all the contingencies will be released and the other offer will be void even if it is a better offer. I am very irritated right now especially since there is nothing I can do but wait. If this does fall through, we will take our house off the market and wait for next year. This has been overly stressful and I am not sure it is worth it.
2 comments:
Good luck guys!! I hope it will all work out for you!!
I guess that's the problem with having home purchases contingent on the sale of your current home. If I were a seller, I wouldn't allow that. When we put an offer on our house, the seller had 24hrs. to decide. If they accepted, that was it and nothing else was valid, even if we were still trying to sell our current home. Of course, the only contingencies we employed were appraisal and inspection.
Good luck. As you know, it's still better than renting (also known as interest-only mortgages).
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