HELP! What would you do?

We sold our co-op - we agreed on a price 2 weekends ago (July 1). However, the contract has not yet been signed (which I understand the delay due to the holiday weekend).

However, our buyer is now claiming her atty just rec'd the financial reports for review this morning (but I faxed them Friday and sent a hardcover via FedEx which I confirmed was rec'd yesterday). She now wants to COME back to our co-op to ck the ceiling, pipes, etc. before signing the contract. Mind you, she looked at the place twice before making an offer.

So, we're very busy this week (I go to school at night and am in a wedding on Friday, and the rehearsal dinner is Wednesday). It's impossible for us to find time, plus, she's making me nervous that she's hesistatant. In the meantime, we made an offer on a home which was accepted yesterday - so needless to say, I want our contract signed ASAP - by the end of the week.
What would you do - would you find the time to let her in again?

Re: HELP! What would you do?

I would definitely find the time to let her see it this week. It sounds as though she may walk away from the deal. I'd rather know sooner than later.

Re: HELP! What would you do?

It sounds to me like she is stalling or having second thoughts. She should have inspected everything right after you agreed on price. Two weeks is enough time to go to contract.

What does your attorney say?

I might let her come again but emphasize the fact to her that you did agree on a price and expected to be in a fully executed contract by now and that you will continue to show the place until you are. Tell her you have others that are asking to come and look so you can't guarantee anything until the contract is fully executed.

Message edited 7/11/2006 11:58:48 AM.

Re: HELP! What would you do?

Unfortunately, I made the mistake of practically befriending this woman. So, I just called my lawyer and asked if I can be honest with this woman and ask her to be honest with me - about any hestitancies.
I sent her an e-mail explaining that we're happy to show it to her again if we can find a mutually agreeable time, but that we'd really appreciate her letting us know if she's considering bailing as we would like to have the contract signed and had others interested in the place. No response yet
This process is so F&*(&# frustrating

Re: HELP! What would you do?

Are you selling it yourself? If not, I would have ask your realtor when he or she might be available to be with the woman while she comes by.

Re: HELP! What would you do?

Yes, we're selling ourselves.
It's a studio apartment in a great location for a great price, so we kinda of thought it would sell itself. We didn't want to bother with an agent.

Re: HELP! What would you do?

I am in the process of trying to sell my studio coop apt. now.

I had a buyer three months ago and my bid was accepted on a house. I am now in my house and the board of directors denied the buyer and wouldn't even meet with him and won't tell me why. I originally found this buyer myself when I advertised on craigslist and figured I could avoid realtor fees.

Since I can't waste anymore time and afford two mortgage, I decided to list the apt. w/a realtor. I hate that I have to give them money but they will screen all the prospective buyers and right now I have a very interested buyer.

I would be careful trying to sell it on your own. I hope your FSBO works out better then mine did.

Re: HELP! What would you do?

I think that's great what you wrote to her. She needs to be straightforward with you and tell you if she's backing out or not.

Good Luck!!

Re: HELP! What would you do?

If you have a board of directors and the refuse the person you should get it in writing as to why... They have to give you a reason as to why they are dening the person. We have a friend who is having a problem with their co-op board .

Re: HELP! What would you do?

I would just be honest with the woman. No sense in showing it to her again and rearranging your schedule if she isn't really going to buy it. Make sure she's not just looking for an excuse to say sorry i don't want it. Give her the out first but i would definitely show it again to her if she says she's still interested.

Re: HELP! What would you do?

Thanks all! She wrote back and tried to reassure me that she isn't trying to back out, that she is moving forward with the process (securing her mortgage, filling out her Board application, etc.) and wants to move forward. She just wants to come one more time so there are no surprises.
While I don't think it's necessary, I guess we have no choice but to humor her. We really don't have anything to hide, it just makes me nervous.
Anyway, DH is letting her in tonight. I told him to just let her look around and don't offer any information. Answer questions honestly but straightforward - at this stage, no need to share something that could be used against us. Obviously, in a co-op, the building is responsible for structure problems - but I don't want her asking for a discount b/c of a scratch on our hardwood floors or something silly like that.

Re: HELP! What would you do?

Co-op & Condo boards do not have to supply the seller with a reason as to why they are rejecting the person. However, check to see if your building as "the right of first refusal" If your building does and rejects the buyer, then the Board has to purchase the apartment. Good Luck!

Re: HELP! What would you do?

We are currently in escrow with our FSBO on our co-op. I think that you made the right decision to e-mail her and ask her about her intentions. My DH had to do that with our buyer. The contract had been sitting with their attorney for a week so he called and asked him to just be honest if he wasn't going through with the purchase - he went in and signed the contract by the end of the week. Sometime people just need to be pushed.

Re: HELP! What would you do?

I would let her back in, so this way if she isnt taking it- you know what is going on.