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Updated about 5 years ago, 11/11/2019

User Stats

4,335
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6,111
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Marcus Auerbach
Agent
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
6,111
Votes |
4,335
Posts

The dark side of a 28 day notice

Marcus Auerbach
Agent
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
Posted

I am upset with a landlord, who is playing it by the book. And maybe I am taking my job as an agent to personal, but this did cost me some sleep last night. I wrote an offer for a new client last weekend on a very nice starter home in the mid 200s - I just met them at an open house and they expressed they were in a hurry and had identified a property. They were pre-approved with a good local bank, I spoke with their loan officer, low down payment, but everything checks out. So we wrote a very clean offer, seller loves it, but is asking us for more than 30 days to close - they have not found a home on their own yet and want 45 days at least. Come to find out, my clients will be on the street in 28 days. 

I usually know the basics about my clients, because I start every relationship with a meeting in my office to discuss the market and the process - and we go trough their story, discuss goals and motivation. So here we have the cart before the horse, I find out their back story after I have presented the offer: they have been served a 28 day notice by their landlord. 

They live in a nice duplex, their rent is current, the two owners (business partners) have decided to put the property on the market and have hired a PM to serve a 28 day notice, which puts their move out date in the middle of December. I called the owner last night and explained the situation to see what is so critical about December 5th and if they were willing to give them a couple extra weeks if we would show them an accepted offer. He told me they were going to sell the place and they will absolutley not budge. He was very suspicious of me and accused me of missleading him or not telling him the full story - reflecting on it, that's probably the reason I am upset. It just rubs me the wrong way. So here we are, a family who wants to sell their home, a family that wants to buy it and we can't make it happen, because the landlord is sticking to his 28 day notice. My Buyers are in a weak position and I really want to help them and make that dream of ownership reality - they just have enough for the down payment and hotel + storage is not feasible they say. 

My head is telling me they should find another place to rent and not waste my time and energy on a small deal, my heart wants to help them; what do you guys think I should do?

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