Goal33 wrote: ↑Mon May 17, 2021 10:11 am
They can’t just take your 50k and then turnaround and sell the house for more. That’s not reality.
Find a RE with a clue.
To OP (and a few others):
Don't forget... sometimes we (OP and others) are the *sellers*.
So... how would it be if you accept an offer, one that is very attractive due to few or no contingencies, and had turned down one or possibly several otherwise "good offers"... just not quite as good, or so it seemed.
You are delighted, everything looks good, and you thus move forward with your own plans, whatever they may be.
Perhaps that includes signing on the dotted line for another property, which is fine, because you know you'll be selling this house and can easily pay off that bridge loan fast (so no worry about that unpleasant rate; it's just for a month or so, right!?). There is that nice new house to look forward to, and where *you* put down what might be much more earnest money than just $50k! After all, you KNEW that you'd be closing soon and how much risk was there in this case, eh??
All is good, even though moving is SUCH a pain.
And/or there are other ways that you've moved forward with plans that can't easily - or can't inexpensively - be changed.
All is good.
Indeed, you wrote on some really wonderful financial website forum that you JUST ACCEPTED A GREAT OFFER!
Not too long before closing, that nice buyer, the folks you thought loved your house SO much (!!)... er, turns out they DON'T.
Not only are they not going to close on the house, forcing you to start the listing process over again, but *maybe* one of the other offers is still interested? Or is this market so hot that they panicked at losing out on "their dream home" and they *quickly* had an offer accepted on that next one. [Yay THEM!]
Turns out now that "nice buyer" is threatening to sue you for that earnest money
... that money that's intended to partially compensate you for the aggravation and costs of needed to start the process over. Say what!? How much more will THAT cost!?
Plus, your house is now in total disarray! Packing boxes EVERYWHERE!
Packing and moving - GRRRR!
All that nice staging, pretty bedspreads borrowed from BFF but now sent back by FedEx overnight, and those lovely lace tablecloths that you've already sent off to Dear Children (who actually really DID want them - how nice was that!??). And the RE agent had absolutely insisted that you spend $X for a few <whatevers> to help with staging. If only you hadn't already paid to have them returned early...
That grand piano, already moved out (that humongous thing; hard to schedule a good piano mover; lucked out with that time slot!). Too bad; it *really* did look nice in that alcove in the Living Room! Everyone always said it 'made the house on the first impression'
And those stacks and stacks of papers and books you finally are ready to finish up now that x, y, and z have *almost* been all packed up...
Where is that Xanax? Did it already get packed up too!???
This signature is a placebo. You are in the control group.