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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Please tell me to be patient!
So after many many back and forth on staying or selling our house, we went house hunting AGAIN and after seeing "a few" houses, we found a great house.
We put in an offer last night.
Now, I want to know how long it's going to be. I mean they have to agree to our $$$ offer and that we need to sell our house too. But still, it's been less than 24 hours and I am running circles all day.   
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Posted 8/5/11 3:29 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Stacey1403
Where it all began....
Member since 5/05 24065 total posts
Name:
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Re: Please tell me to be patient!
Be patient! 
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| Posted 8/5/11 3:30 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Please tell me to be patient!
I know how REDiculous I am! Trust me!!!!
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| Posted 8/5/11 3:32 PM |
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HomeIsWithU
Baby #2 on the way!
Member since 9/07 7816 total posts
Name:
Jenn
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Re: Please tell me to be patient!
Good Luck!!! I hope you get some good news 
I know how you feel...we just went through this process too and every time we put in an offer within 12 hours I was like "would they answer us already???!!!"  It's nervous excitement I'm sure and totally normal to be impatient.
I hope you get it!!
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| Posted 8/5/11 3:41 PM |
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NewYawkah
2012--A year of new beginnings
Member since 5/05 4402 total posts
Name:
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Re: Please tell me to be patient!
It is such a hard wait!!! I remember staring at the phone, like a girl after a first date!!!
I hope they accept and I hope that you hear quickly!
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| Posted 8/5/11 3:45 PM |
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want2beamom
Love my boys soooo much!!!
Member since 8/06 10164 total posts
Name:
True love doesn't end with happily ever after...
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Re: Please tell me to be patient!
I know how you feel. We found a house that we want...its actually the reason we are trying to sell our house...we werent even looking to buy/sell but came across it...they wont even entertain our offer until we have a buyer for this house....so every day, I drive past to make sure there isn't a sold sign in front of the other house
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| Posted 8/5/11 4:18 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Please tell me to be patient!
Posted by want2beamom
I know how you feel. We found a house that we want...its actually the reason we are trying to sell our house...we werent even looking to buy/sell but came across it...they wont even entertain our offer until we have a buyer for this house....so every day, I drive past to make sure there isn't a sold sign in front of the other house
Well, I am NOT selling until I have an accepted offer. I don't want to sell my house and be desperate to find something else. Especially since we want a very specific type of property.
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| Posted 8/5/11 4:41 PM |
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Re: Please tell me to be patient!
Do you have an agent? If so, I would have him/her follow up with the listing agent. If not, I'd follow up yourself. Personally, I think 24 hours is too long to wait for a response, unless the sellers are out of town or somehow unreachable, or unless it's a situation where multiple people need to agree (such as an estate sale).
But honestly, I think you will have a real uphill battle getting an accepted offer if it has to be contingent on the sale of your home, especially when your home isn't even on the market. I would never let one of my sellers accept such an offer. There is just too much uncertainty about when (and if) you will get a buyer. They could be tied up forever waiting for your sale to happen. I've recently had a couple of listings that sold where the buyer had a home under contract and their offer was contingent on the their home sale closing. Even then, it was a definite drawback to the offer, and had to be seriously considered. Ultimately, in both cases, there were time parameters put in the contract to protect the seller of my listing should the sale of the buyer's home not close for some reason or should there be unreasonable delays (e.g., the buyer can't get financing, there are CO issues, etc.).
I think your chances of getting an accepted offer would be so much better if you sold your home first, and then rented short-term if you had to while you searched for the specific type of property you are looking to buy.
But I will keep my fingers crossed for you on this offer. Good luck!
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| Posted 8/5/11 6:17 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Please tell me to be patient!
I did not disclose the whole terms of the offer just that my house to be sold as part of the offer.
Yes, it's not an easy cash offer. But they also have been on the market for a while. And who in this day and age, is ready to buy a house just like that without having their own house? This is not exactly a "first time" home buyer cheaper house, so unless it's someone "loaded", I can't see anyone not in a similar situation as us.
We cannot rent. We have a full house. 1 kid, 3 dogs. I can't imagine who would rent to us. Just with the dogs alone.
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| Posted 8/5/11 6:22 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Please tell me to be patient!
Posted by Century 21 Dallow - Christine Braun
But honestly, I think you will have a real uphill battle getting an accepted offer if it has to be contingent on the sale of your home, especially when your home isn't even on the market. I would never let one of my sellers accept such an offer. There is just too much uncertainty about when (and if) you will get a buyer. They could be tied up forever waiting for your sale to happen. I've recently had a couple of listings that sold where the buyer had a home under contract and their offer was contingent on the their home sale closing. Even then, it was a definite drawback to the offer, and had to be seriously considered. Ultimately, in both cases, there were time parameters put in the contract to protect the seller of my listing should the sale of the buyer's home not close for some reason or should there be unreasonable delays (e.g., the buyer can't get financing, there are CO issues, etc.).
I think your chances of getting an accepted offer would be so much better if you sold your home first, and then rented short-term if you had to while you searched for the specific type of property you are looking to buy.
Couldn't agree more.
There are plenty of people with kids and dogs who rent. May not be a large house, but it's still doable. And there are even whole house rentals out there if need be.
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| Posted 8/5/11 6:27 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Please tell me to be patient!
Well, WE don't want to do that. We are also NOT the only people who are doing it. Plenty of people told me they did the same thing. So while it's not "ideal", it's feasable and had been done by our own LIF posters.
And like I said, is there ever a "perfect" offer? Cash and full asking price! In a perfect seller's World, it would be!
Message edited 8/5/2011 6:32:36 PM.
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| Posted 8/5/11 6:31 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Please tell me to be patient!
Posted by smdl
And who in this day and age, is ready to buy a house just like that without having their own house? This is not exactly a "first time" home buyer cheaper house, so unless it's someone "loaded", I can't see anyone not in a similar situation as us.
I think you underestimate your competition out there. You said everyone is in your same situation and are saddled with a house they won't put on the market before getting an accepted offer. Honestly I find this to be very doubtful.
There are indeed plenty of people who are "well off". Saved for years. Didn't buy at the height of the market and banked money. Got money from parents, inheritence, wedding, etc. 3% FHA down loans are still around and haven't gone away so you don't have to come in with a ton of cash to buy a 500-600k house.
Then you have people who will sell their home and deal with renting because it is usually the best financial move when it comes to upgrading real estate.
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| Posted 8/5/11 6:33 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Please tell me to be patient!
It just depends on the type of property we are talking about.
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| Posted 8/5/11 6:35 PM |
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Re: Please tell me to be patient!
Just wanted to wish you luck! I hope everything works out for you!
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| Posted 8/5/11 6:37 PM |
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twinkletoes807
Mommy's Girls! ♥
Member since 11/07 10116 total posts
Name:
Gabi
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Re: Please tell me to be patient!
Best of luck RS!   FTR- I sure as helll wouldn't sell and rent either. What an incredible headache!
Message edited 8/5/2011 6:41:54 PM.
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| Posted 8/5/11 6:41 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Please tell me to be patient!
Posted by smdl
It just depends on the type of property we are talking about.
I am curious as to how does the type of property have anything to do with showing flexibility to a seller?
You have mentioned this a few times and I am trying to fathom how different property "types" change this situation.
Flexibility will save you money on your purchase price. Guaranteed. As a seller, if somebody offers me 545k. And then another buyer offers me 550k but has a house they have to sell and haven't even put it on the market... I am taking the 545k offer every day of the week and twice on sundays.
So you are most likely going to have to not only outbid your competition, but likely outbid by a decent amount. That is a tough task.
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| Posted 8/5/11 6:42 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Please tell me to be patient!
Posted by ave1024
Posted by smdl
It just depends on the type of property we are talking about.
I am curious as to how does the type of property have anything to do with showing flexibility to a seller?
You have mentioned this a few times and I am trying to fathom how different property "types" change this situation.
Flexibility will save you money on your purchase price. Guaranteed. As a seller, if somebody offers me 545k. And then another buyer offers me 550k but has a house they have to sell and haven't even put it on the market... I am taking the 545k offer every day of the week and twice on sundays.
So you are most likely going to have to not only outbid your competition, but likely outbid by a decent amount. That is a tough task.
I will be honest. I did not ask for opinions on my offer. If it was good or my agent was good. It is what it is!
I hope they accept it. And that's that!!!!
Maybe I was looking for more positive support!
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| Posted 8/5/11 7:02 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: Please tell me to be patient!
good luck! Is it in the area that you were looking?
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| Posted 8/5/11 7:40 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Please tell me to be patient!
Posted by Erica
good luck! Is it in the area that you were looking?
Thanks! Yes it is!
Message edited 8/5/2011 7:47:50 PM.
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| Posted 8/5/11 7:47 PM |
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Re: Please tell me to be patient!
Well, let us know when you hear. You never know a seller's motivation -- every situation is different. So it may work out in your favor. I hope that's the case.
I'm definitely thinking positive thoughts for you. Sorry if I offered unsolicited advice -- however well-intentioned! Sometimes I can't help myself. 
Anyway, hang in there. Tom Petty was so right - The waiting IS the hardest part!
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| Posted 8/5/11 8:57 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: Please tell me to be patient!
Hard to be patient, I know!!!! Could be quick (esp if the house just came on) or could be longer!!! Good luck and fingers crossed!!!!
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| Posted 8/6/11 1:50 AM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Please tell me to be patient!
Good Luck Sophie!
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| Posted 8/6/11 9:24 PM |
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missfabulous
#mommyneedswine
Member since 6/09 10031 total posts
Name:
Colleen
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Re: Please tell me to be patient!
Good luck!! I hope it works out for you!
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| Posted 8/7/11 6:47 AM |
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Jenhos
Maeve
Member since 6/05 3273 total posts
Name:
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Re: Please tell me to be patient!
Good Luck. Hope you aren't still waiting!!!!
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| Posted 8/7/11 4:32 PM |
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