Michael Lissack - SELL FOR MORE THAN YOUR NEIGHBORS!

In a buyers' market you may have few options. In a sellers' market, you have the options above.

Once again, knowledge is power.

THE BUYER'S EXISTING HOME SALE FALLS THROUGH

If you have accepted an offer contingent upon the successful sale and closing of the buyer's existing home, if that sale collapses so too might yours. Depending upon the relative value of the two homes and the financial strength of the buyer, it may be possible for the buyer to get a bridge loan (a loan that allows for the simultaneous ownership of the two houses) until their existing house finally sells. Before accepting that your sale is doomed, ask about bridge financing. But, be gentle in asking. The buyers (whose home now failed to sell) will be in as much shock as you. Again try to make this a shared problem.

TIMING ISSUES

There is a tenant in place who refuses to leave.

This one is your problem. Consult with an attorney.

Repairs fail to get made on time.

Another shared problem. Offer a reasonable concession but do not allow the buyers' to cancel the deal. Your real estate agent will have a list of service providers. Call all of them to get help. Offer to have an amount equal to 133% of the estimated cost help in escrow post closing until the repair is completed. Be gentle. It is your money, but you are in essence asking the buyers to live with the problem for some period of time.

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