Sales Advice - Lots f Interested Buyers!

mike brez wrote:

westernrvparkowner wrote:

mike brez wrote:
Some people just aren't douche bags.
My son and his girlfriend purchased their house from a fsbo
They were the first ones to look at it and offered just what we was asking. Meanwhile other people came and offered more and he refused. He even waited while the kids mortgage was approved.

Waiting for a mortgage to be approved is pretty much standard operating procedure in most residential real estate transactions. Also, real estate is done with written contracts. Once a contract is in place, the seller is obligated to the terms of that contract so they generally can't just accept a higher priced offer should one come along. That seller wasn't being overly charitable or accommodating.

Yea I understand how real estate works sold and purchased many. But thanks for the lesson.
They had nothing. Saw a ad went to look at it. They were the first to see it and said they would give him x amount verbally and he said ok. After this they needed to go and apply for a mortgage and play the waiting game.
This fella could have gotten more money from a pre approved buyer and got his money months sooner.

Glad it worked out for your son, but the entire transaction was a big mistake for the seller and they were very lucky it worked out for them. Any number of things could have derailed that transaction and the seller could have been out in the cold. Real Estate market conditions can change rapidly, and there was the potential the market could have turned against the seller in the months it took to close that transaction. I guess if the sellers goal was to maximize the risk and minimize the financial return, choosing to not have professional representation was very smart.