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Updated over 6 years ago on . Most recent reply

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Austin Hughes
  • Rental Property Investor
  • Lubbock, TX
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Am I a Jerk for Asking Buyers to do this?

Austin Hughes
  • Rental Property Investor
  • Lubbock, TX
Posted

I had a closing that was set to happen tomorrow. Everything was ready, but the buyers didn't have their ducks in a row, and closing will be extended 7-12 days.

I told my realtor to ask if they can cover my extra holding costs that will be incurred ($400).    Without ever asking the buyers, he has tried to make me counter against myself THREE TIMES to get me not to request this. Mind you, we haven't even asked the buyers yet. Could be a simple, "sure" or they might say "no."

The reason I'm asking you guys on BP is because he is so insistent that we not request this that I am wondering if I am oblivious. He says it will definitely hurt my reputation. Am I being a jerk? I never want to do be seen as a hard person to deal with, but am I expected to eat the cost of their mistakes? Please weigh in.

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JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
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JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorReplied

If there is no financial windfall to the buyer for the delay, and if there was nothing malicious about it, I would file it under "It happens" and leave it be. Unless you are giving the property away in a fire sale, I can't see how $400 is worth it to sink a deal. If anything, perhaps you might have your realtor suggest that they split the additional costs with you 50/50 ($200). 

If I were the buyer and you insisted, unless it was a smoking deal or a serious screw-up on my part, I wouldn't close under those terms. 

If you live and die by $400, then you probably need a better business model. If you asked me if you were being a jerk by insisting, I would say yes. 

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Skyline Properties

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