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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Did anybody lose a house because they did not move quickly enough to get a contract??
I was told today by my REA, that the other offers that we outbid, came up in price. He told us it is in our best interest to keep moving forward quickly. We have the inspection set for tomorrow, the appraisal next week, working with our attorney and mortgage guy...geesh...how much more quickly can we move. The offer was only accepted tuesday night at 9pm!!! It also could just be a ploy to motivate us to move on with everything right???
Has anyone lost a house because they were not in contract yet and the homeowners accepted another offer? I mean we are paying asking price!!!!
Getting nervous!!
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Posted 1/19/07 10:33 AM  |
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Prudential Douglas Elliman Real Estate
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
The owner's should know you're serious based on the fact that you have so much scheduled so far with the house....once the inspection is done, things move a lot quickly.
I sent you fm back.
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| Posted 1/19/07 10:37 AM |
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
After an offer is accepted it should take no longer then a week to go to contract. Once the inspection is done then you go to contract, after you are in contract is when the appraiser comes in. We are in the process of selling right now and that is how the steps are. We also had multiple people come after we accepted the offer and we told them whoever gets to contract first is who will be buying the house.
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| Posted 1/19/07 10:56 AM |
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
Posted by bridget-n-jimmy
After an offer is accepted it should take no longer then a week to go to contract. Once the inspection is done then you go to contract, after you are in contract is when the appraiser comes in. We are in the process of selling right now and that is how the steps are. We also had multiple people come after we accepted the offer and we told them whoever gets to contract first is who will be buying the house.
Also the sellers attorney is the one who writes up the contracts.
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| Posted 1/19/07 10:57 AM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
It is something that happens all the time. Some sellers think that you could possibly be looking for another home. Some sellers just want to cover their butts to make sure that the house sells. As long as you are doing everything you should in a timely manner they should have no reason to go with another buyer (Although I have seen some sellers who don't care either way and just want the contracts signed asap by anyone.)
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| Posted 1/19/07 11:07 AM |
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
Posted by Diana1215
It is something that happens all the time. Some sellers think that you could possibly be looking for another home. Some sellers just want to cover their butts to make sure that the house sells. As long as you are doing everything you should in a timely manner they should have no reason to go with another buyer (Although I have seen some sellers who don't care either way and just want the contracts signed asap by anyone.)
That is kind of how we felt after we were burned by another buyer. We had a buyer and we accepted his offer and waited for him to do everything he wanted done before we signed contracts. Well another buyer came along and we turned them away, then the original buyer backed out and bought the unit (we are in a townhouse) a couple of doors down and then the second buyer had already placed an offer with another unit, so we were stuck with no buyer. So this time we said whoever gets it done first is buying the house.
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| Posted 1/19/07 11:18 AM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
Posted by MrsFlatbread
I was told today by my REA, that the other offers that we outbid, came up in price. He told us it is in our best interest to keep moving forward quickly. We have the inspection set for tomorrow, the appraisal next week, working with our attorney and mortgage guy...geesh...how much more quickly can we move. The offer was only accepted tuesday night at 9pm!!! It also could just be a ploy to motivate us to move on with everything right???
Has anyone lost a house because they were not in contract yet and the homeowners accepted another offer? I mean we are paying asking price!!!!
Getting nervous!!
The process can go really fast.
I had an offer accepted Wednesday morning, appraisal was today and the contract will be ready by Monday or Tuesday. There will be no inspection since it's a gutted 4 family house being purchased by a developer. Buyers attorney is drafting the contract to save the Seller some money. Seller's attorney is just reviewing.
ETA - there were 5 offers on the house and he took the highest, of course. If it falls through there are back ups. 
Message edited 1/19/2007 1:58:30 PM.
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| Posted 1/19/07 1:57 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
Just keep doing what you're doing... It can happen, of course, but once you have your inspection done - if everything goes well - you will be far ahead in the game.
Just because the other offer went up doesn't mean you were outbid, also doesn't mean the sellers accepted that offer.
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| Posted 1/19/07 3:01 PM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
Our offer was accepted a week ago Tuesday and we didnt sign until today.
It was a very annoying process and even though it is in our best interest, sometimes the lawyers (ours and theirs) made it worse. (Sorry MrsT!! ) We felt very pressured and had to rush to to get things done, but when it came to their side they took their time. I actually thought we might not sign because of all of the BS I had to go through this past week.
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| Posted 1/19/07 5:21 PM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
Posted by BackInNewYork
Our offer was accepted a week ago Tuesday and we didnt sign until today.
It was a very annoying process and even though it is in our best interest, sometimes the lawyers (ours and theirs) made it worse. (Sorry MrsT!! ) We felt very pressured and had to rush to to get things done, but when it came to their side they took their time. I actually thought we might not sign because of all of the BS I had to go through this past week.
Not a problem 
I don't even attempt to work the legal side of my real estate deals. I just broker them . Unfortunately, the lawyers are often the cause for contract delays.
A recent couple who sold their house through me had clauses in the contract about 1) not accepting wired funds at closing (over $1 million sale and they did not want a wire ) and a clause re: 2) the Buyers had to pay the Sellers attorney's fee if the closing was not by the date noted.
The attorneys fee clause was NOT requested by the Sellers at all - the lawyer added it. And the part about wired funds was due to some typo years ago that lead to the Sellers bouncing a check. I cleared all that up and the deal closed.
The process is annoying but worth it when you get the keys to your home - or your check if you are the seller 
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| Posted 1/19/07 5:32 PM |
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
Message edited 9/11/2011 1:49:16 AM.
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| Posted 1/19/07 9:45 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
Posted by ssdbk
Posted by MrsFlatbread
I was told today by my REA, that the other offers that we outbid, came up in price. He told us it is in our best interest to keep moving forward quickly. We have the inspection set for tomorrow, the appraisal next week, working with our attorney and mortgage guy...geesh...how much more quickly can we move. The offer was only accepted Tuesday night at 9pm!!! It also could just be a ploy to motivate us to move on with everything right???
Has anyone lost a house because they were not in contract yet and the homeowners accepted another offer? I mean we are paying asking price!!!!
Getting nervous!!
Well, sort of. In our deal that fell through, the homeowners stalled on us until their listing ran out. They had an offer that was somehow with another broker but they played us until their listing ran out. The whole thing was very weird and there were a lot of issues.
In our current house, they got a higher offer after they got ours. It was from a buyer that had made them offers before, but they could not agree. Even though they had accepted our offer, we increased our offer a little upon learning about it.
As far as your situation, just remember that whoever else places an offer will also have to go through all of the things you are doing before they will get a contract.
After my first situation, I was no longer willing to tolerate a seller who stalled. I do think that there are many reasons to move quickly. It shows that both parties are serious. But these things can only go so fast.
But our first offer was asking price and these other people were trying to negociate for weeks but still not asking price, now that the house went to us I think they finally realized they made a mistake and increased their offer! I mean we are moving very quickly! Contracts should be in the mail by Monday. Still worried!
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| Posted 1/20/07 8:34 AM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
It moves so quickly. DH always says he is amazed that we made the biggest purchase of our lifes so far for a home we had spent maybe 2 hours in max between the one time we saw the house and the inspection.
It was funny because when we moved in we were like huh, I don't remember that being the case. For example, we failed to notice that we only had a one car driveway, and that our neighbor doesn't mow her lawn.
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| Posted 1/20/07 9:26 AM |
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Secret4Now
LIF Toddler
Member since 12/06 411 total posts
Name:
In due time. No pun intended.
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
Just hope for the best. They know that you're serious in comparison to the other people. I think that our situation was similar. In our case, the sellers were already very annoyed at the other potential buyers, because they had tried so hard to make a deal with them before we came along. They didn't trust the other potential buyer and the house went to us!
Message edited 1/22/2007 12:56:25 PM.
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| Posted 1/21/07 9:47 PM |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: Did anybody lose a house because they did not move quickly enough to get a contract??
I am getting a headache reading this we just started looking
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| Posted 1/21/07 9:59 PM |
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