The buyer and I reached a comprise today and tomorrow when we fax back the accepted counteroffer SFH#1 will be under contract again. As a lessoned learned from last month, I know that it’s not a done deal until I have my money in hand. To make sure the buyer would close, or to give him more incentive, the earnest money is $5,000 and non-refundable. This means that if he doesn’t close due to the inspection, financing or whatever, he doesn’t get the earnest money back. I think that the fact that he accepted those terms makes him a very serious buyer.
Now I have to find a place to live in under a month. I’m not sure if I can find a good enough deal that fast but I’m going to try.