LIFamilies.com - Long Island, NY


RSS
Articles Business Directory Blog Real Estate Community Forum Shop My Family Contests

Log In Chat Index Search Rules Lingo Create Account

Quick navigation:   

Houses under contract question

Posted By Message

kam29
LIF Infant

Member since 3/06

297 total posts

Name:
Kelly

Houses under contract question

How long are houses under contract for and are there good chances that the contracts will fall through?

Any info is appreciated!

Posted 7/18/06 4:17 PM
 
Long Island Weddings
Long Island's Largest Bridal Resource
  |   Prudential Douglas Elliman Real Estate

MegZee
My bunny

Member since 5/06

8777 total posts

Name:
Meaghan

Re: Houses under contract question

good question!

I have heard of contracts falling thru (buyers not being able to secure financing is one reason).

Posted 7/18/06 4:23 PM
 

Hi-Fi55
12 years...wow....

Member since 2/06

2984 total posts

Name:
Dianne

Re: Houses under contract question

Contracts are under agreement for all different term lengths depending on what has been agreed upon between the buyer and seller (the closing date!). There are other factors as well (how long it takes for title to come in and those issued to be cleared up, how long it takes to obtain a mortgage, etc.). Average Contracts are 2 - 3 months. I've seen longer and shorter.

Deals do fall apart. If they do, it is usually in the beginning, before both parties have signed contracts, in the middle when a buyer cannot obtain a mortgage or when a seller will not clear title issues or at the end when someone can't come up with the money. I have to say it happens, but it's not the majority of deals that it happens on.

Posted 7/18/06 4:31 PM
 

kam29
LIF Infant

Member since 3/06

297 total posts

Name:
Kelly

Re: Houses under contract question

Thanks. This information is really helpful. We ran into a problem where the house we loved was under contract yet the realtor didn't tell us until just now. Turns out it's been under contract since 5/15 and we are being evil and praying that it falls through....

Posted 7/18/06 4:34 PM
 

Hi-Fi55
12 years...wow....

Member since 2/06

2984 total posts

Name:
Dianne

Re: Houses under contract question

That's a shame. The broker should have been upfront with you. Good luck! Chat Icon

Posted 7/18/06 4:39 PM
 

MegZee
My bunny

Member since 5/06

8777 total posts

Name:
Meaghan

Re: Houses under contract question

we had the same thing happen to us.

FH called the broker who listed the house a few days ago...kept calling and getting the runaround..

then the guy calls today and says, 'oh the contracts were signed a half hour ago'


allrighty then!

Posted 7/18/06 4:41 PM
 
 

Potentially Related Topics:

Topic Posted By Started Replies Forum
Contract question?? aw29 3/21/06 4 Home
Question about Levittown houses betty 3/9/06 46 Home
Naive question about houses.... missus-hbradio 1/27/06 5 Home
Contract Signing Question... Leeners 12/12/05 6 Home
Teachers, new contract question.... BigB 11/22/05 4 Families Helping Families ™
Question about Levitt houses danielleandscott 7/21/05 8 Home
 
Quick navigation:   
Currently 1178846 users on the LIFamilies.com Chat
New Businesses
1 More Rep
Carleton Hall of East Islip
J&A Building Services
LaraMae Health Coaching
Sonic Wellness
Julbaby Photography LLC
Ideal Uniforms
Teresa Geraghty Photography
Camelot Dream Homes
Long Island Wedding Boutique
MB Febus- Rodan & Fields
Camp Harbor
Market America-Shop.com
ACM Basement Waterproofing
Travel Tom

      Follow LIWeddings on Facebook

      Follow LIFamilies on Twitter
Long Island Bridal Shows