U
/u/Various_Ad9010
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I have 7 kids and husband and I and our kids live in 2200 ft2. We have been casually looking for several years in our smallish market. We finally came across a listing that was at the very very tippy top of our budget but that meets our requirements.
Our real estate agent happened to also be the listing agent. He’s double ending the deal. We made a contingent offer on the home because our agent convinced us that our current home would sell super fast.
Surprise to everyone it has taken 5 weeks to sell. (Our agent disappeared for 3 weeks, but that’s a whole other story.) It finally received a full price offer which is, unfortunately, contingent.
Tomorrow is the last day of our contact on the house we are supposed to purchase. Here’s what our agent who is poised to get >$100k in commission wants us to do:
1) agree to the contingent offer for the purchase our existing home 2) sign an extension on the contract for the home we’re buying 3) sign a lease to rent and move into the home we’re wanting to purchase while we wait for everything to close
Am I crazy or is this a risky plan? If it turns out that the buyers of our home can’t sell their home we would end up moving twice and paying two mortgages for a while plus, potentially, having to deal with showings at one or both properties.
I’m trying to decide whether we let the whole deal expire or hustle to make it happen even with the risks. In some ways it feels like the universe is saying no. In some ways I’m trying to remember that everything worthwhile takes a lot of hard work.
submitted by /u/Various_Ad9010
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Double contingency / should we proceed?
Continue reading...
Our real estate agent happened to also be the listing agent. He’s double ending the deal. We made a contingent offer on the home because our agent convinced us that our current home would sell super fast.
Surprise to everyone it has taken 5 weeks to sell. (Our agent disappeared for 3 weeks, but that’s a whole other story.) It finally received a full price offer which is, unfortunately, contingent.
Tomorrow is the last day of our contact on the house we are supposed to purchase. Here’s what our agent who is poised to get >$100k in commission wants us to do:
1) agree to the contingent offer for the purchase our existing home 2) sign an extension on the contract for the home we’re buying 3) sign a lease to rent and move into the home we’re wanting to purchase while we wait for everything to close
Am I crazy or is this a risky plan? If it turns out that the buyers of our home can’t sell their home we would end up moving twice and paying two mortgages for a while plus, potentially, having to deal with showings at one or both properties.
I’m trying to decide whether we let the whole deal expire or hustle to make it happen even with the risks. In some ways it feels like the universe is saying no. In some ways I’m trying to remember that everything worthwhile takes a lot of hard work.
submitted by /u/Various_Ad9010
[link] [comments]
Double contingency / should we proceed?
Continue reading...