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Updated over 6 years ago on . Most recent reply

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Shawn Ackerman
  • Real Estate Entrepreneur
  • Mid West, East Coast
1,255
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Contract expires next week, buyer cant close for two weeks WWYD??

Shawn Ackerman
  • Real Estate Entrepreneur
  • Mid West, East Coast
Posted

We have come to a bit of a crossroads. We have a deal wherin sellers contract expires(he will not renew) 10/10 however buyer cannot close until one week after. 

Our relationship with buyer is new however was referred by a certified closer. Buyer lives out of state and has not put down any EMD. Would you buy the property and hold for a week or let the deal die?

All other interested parties have either not come up with the funds to close or passed on the deal.  Property is a 3-unit occupied rental in C-D neighborhood and we are not necessarily interested in holding this one. P/P $45k

  • Shawn Ackerman
  • Most Popular Reply

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    Nathan Gesner
    • Real Estate Broker
    • Cody, WY
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    Nathan Gesner
    • Real Estate Broker
    • Cody, WY
    ModeratorReplied

    No earnest money? i wouldn't even accept the contract if they aren't willing to at least do that. I would walk away from this without hesitation. Why are you putting any faith in this individual?

    • Nathan Gesner
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    The DIY Landlord Book
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