Buyer wants another extension for SFH#1
May 9th, 2006 by KenricSo I get the scoop today from my realtor. The buyer is out of town and cannot sign the loan docs. First thing that comes to mind is why don’t you fed ex the docs over and have him sign it. Why can’t his wife, who is in town sign it? I was getting the feeling that they were going to back out of the contract. Most people buying a house and pretty excited and want to move in ASAP. But this buyer is out of town? Didn’t make any provisions to close long distance?
The buyer won’t be in town until Thursday which means that the house won’t close until Thursday or Friday. They want another extension until then. We counter with requiring an additional non-refundable $5,000 put into escrow before the extension is signed.
I call the buyer’s realtor myself to hear their story. He tells me that the buyer is a business owner and an emergency came up where he had to leave town on short notice. I ask why we can’t fax or Fedex the docs over. He says he’s working on it. I let him know that I’m pissed and that this is the last extension they will get (of course if they keep paying $5k for 2 days, who knows!). I told him that the buyer must make this his number one priority this week or they will lose the house. If this doesn’t close at the end of the week, I’m keeping the $9,000 earnest money. $9,000 can pay for many months of mortgages!
So, I’m not turning my power back on nor am I going over there to water the plants. If my pool is green and my plants are dead and it doesn’t close, that $9,000 should cover it. I also told the buyer’s realtor that I’m not fielding any complaints of dead plants or a dirty pool once it does close!
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