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we accepted an offer so why is it taking so long for them to sign the contract?

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2boys4me
He's coming soon!

Member since 4/10

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we accepted an offer so why is it taking so long for them to sign the contract?

We accepted an offer almost a month ago. They had an inspection, found somethings wrong, we had them fixed and were suppose to sign the contract last Monday but my lawyer said that they are taking their time... asking for a bunch of stuff now ugh is this normal?

Posted 3/27/11 11:13 AM
 
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Melmel821
Love being a mom!

Member since 5/08

2776 total posts

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Melanie

Re: we accepted an offer so why is it taking so long for them to sign the contract?

Now is the time of year that people start house hunting. I would continue to show and entertain offers until they sign the contract.

Posted 3/27/11 11:34 AM
 

Christine Braun - Signature Premier Properties
LIFamilies Business

Member since 2/11

3992 total posts

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Re: we accepted an offer so why is it taking so long for them to sign the contract?

What kind of stuff are they asking for? Additional repairs related to the home inspection? Or are they asking for other things in the contract that the lawyers are negotiating about? Has your agent talked to the buyer's agent to try to get more info?

In my experience, buyers who are committed to buying the house want to go to contract asap. I always explain to my buyers that no one is really committed until the contracts are fully signed. Sellers continue to show and hear offers until the contracts are signed, so that usually motivates buyers to get the inspection done and go to contract as quickly as possible, to lock up the house.

I agree that you should continue showing until the contract is done, if you aren't already doing that. In case you can't come to agreement with the buyers you have now (or they back out of the deal), you don't want to have lost weeks of showings because you put all your eggs in one basket, you know?

That being said, a lot of buyers don't want to see a house (and agents don't want to show a house) that has an accepted offer on it, because they don't want to get their hopes up on a house that's not truly available or get involved with a bidding war.

Posted 3/27/11 2:12 PM
 
 

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