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Real estate buying question.
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Posted 5/12/2022 08:17 (#9657409 - in reply to #9657396)
Subject: RE: Real estate buying question.

NC Iowa
WHYNOT - 5/12/2022 08:10

If the buyers do not get a mortgage commitment within the time frame spelled out in the contract, the sellers can break the contract if they don't wish to do an extension. My suggestion would be to call the listing agent and ask for a showing. If they allow it and it's what you want, present your cash offer as a backup offer. With the way things are right now, deals are starting to fall apart, and you might just get lucky.

That is what I have done. A backup off is in place on the house for $100 over the asking price.

Hoping their loan falls through. Have mortgage rates risen sharply yet? That gets built in to the selling price too.
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