Originally posted by @Theresa Reynolds:
@Mike L.
Thank you Mike! That was the most helpful response this far. The only reason I talked about backing out was because he said he wanted to close in a week after I waited 3 months for him to get the roof done. Obviously I can’t deliver that so I felt obligated to back out, not because I wanted to. But then I thought, wait a minute … there is no written closing date in the contract so I don’t see how he can demand that after he hasn’t even completed all the work he’s agreed to do.
To the rest of you folks commenting: I have never done a deal before so I am naive and oblivious to things that might be obvious to you. I’m just trying to see if I can save my deal.
No closing date leads me to believe the contract is probably far from bulletproof. As others have mentioned, when you have a deal you need to strike and lock it down. This back and forth asking for multiple repairs is for average-joe homeowners looking to buy off the MLS with a realtor - the conventional way of buying. Since there is someone else looking to buy this you should use it as confirmation to get your stuff together and close this bad boy!
I will be out looking for properties in Flathead Valley in a couple of weeks, if you need a hand looking over the contract, house, etc. I'm happy to give you my advice. Keep putting in the work and riding the rollercoaster of RE investing. This is what growth feels like.
