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When putting a bid down on a house....

Posted By Message

JldDolphin

Member since 1/07

6929 total posts

Name:
Jen

When putting a bid down on a house....

can you put a binder down too so you don't lose the house?

One of my friends has lost 4 houses because the homeowner excepted their bid and then got a better one before they signed the contract.

Thanks!

Posted 3/19/07 9:43 AM
 
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nixy
LIF Adult

Member since 9/06

1575 total posts

Name:
K

Re: When putting a bid down on a house....

I don't think that you can do this in NY.

Posted 3/19/07 9:48 AM
 

ali120206
2 Boys

Member since 7/06

17790 total posts

Name:

Re: When putting a bid down on a house....

Posted by nixy

I don't think that you can do this in NY.



I agree.

The seller has the right to accept a higher bid until the contract is signed. DH and I had some stress over this when we made an offer, especially since it was a FSBO and it took over 2 weeks to sign the contract!!!

Posted 3/19/07 9:54 AM
 

JldDolphin

Member since 1/07

6929 total posts

Name:
Jen

Re: When putting a bid down on a house....

Posted by ali120206

Posted by nixy

I don't think that you can do this in NY.



I agree.

The seller has the right to accept a higher bid until the contract is signed. DH and I had some stress over this when we made an offer, especially since it was a FSBO and it took over 2 weeks to sign the contract!!!



It's crazy! I'll be Chat Icon for awhile I guess. Chat Icon

What is a FSBO?

Thanks!

Posted 3/19/07 9:57 AM
 

ali120206
2 Boys

Member since 7/06

17790 total posts

Name:

Re: When putting a bid down on a house....

Posted by JldDolphin

It's crazy! I'll be Chat Icon for awhile I guess. Chat Icon

What is a FSBO?

Thanks!



It's stressful, I'm sure it will work out!

FSBO is for sale by owner. If you use a realtor, the process is usually quicker because they help push things along faster.

Good luck!

Posted 3/19/07 10:02 AM
 

JldDolphin

Member since 1/07

6929 total posts

Name:
Jen

Re: When putting a bid down on a house....

Posted by ali120206

Posted by JldDolphin

It's crazy! I'll be Chat Icon for awhile I guess. Chat Icon

What is a FSBO?

Thanks!



It's stressful, I'm sure it will work out!

FSBO is for sale by owner. If you use a realtor, the process is usually quicker because they help push things along faster.

Good luck!



Thanks! We do have a realtor, so hopefully the process won't be too stressful, but I'm just preparing myself. Thanks again.

Posted 3/19/07 10:07 AM
 

SweetTooth
I'm a tired mommy!

Member since 12/05

20105 total posts

Name:
Lauren

Re: When putting a bid down on a house....

you can give the seller a good faith deposit, but it usually isn't done anymore.
a seller is not going to stop showing their house because you gave them $100 or whatever.

Posted 3/19/07 12:12 PM
 

Diana1215
Living on a prayer!!!

Member since 10/05

29450 total posts

Name:
Diana

Re: When putting a bid down on a house....

Legally the seller can accept/listen to any other offers until they are sitting at the closing table.

I know it stinks - but it's true. Most sellers are happy once the contracts are fully signed though!

The waiting period is the worst!

Posted 3/19/07 3:26 PM
 

burberrygirl
so happy!!

Member since 1/07

2091 total posts

Name:
Mommy

Re: When putting a bid down on a house....

good luck

Posted 3/19/07 3:38 PM
 

JldDolphin

Member since 1/07

6929 total posts

Name:
Jen

Re: When putting a bid down on a house....

Thanks Everyone! I was pretty sure that was the answer. Chat Icon Chat Icon

Posted 3/19/07 4:45 PM
 
 

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