- Real Estate Agent
- Colorado Springs, CO
- Votes |
I received this message from an associate and would really appreciate any advice:
Hey I've got a situation. I'm selling the house and I've been under contract to close originally 2 weeks ago. There was an issue on the buyers credit report that pushed it back to next Monday. Now they are still having credit report issues and need an additional 2 weeks. We have made concessions on repairs, extensions, and gave them the option to find their own contractors for repairs. It's been unoccupied for 2.5 mths and I'm soaking up the (expensive) expenses.
I don't want to cut them loose if it's true and accurate they only need 2 weeks. I also don't want to keep taking financial hits bc they can't pay student loans.
So what I'm thinking about is getting them to put up $1000-1500 in additional earnest money to give a guarantee that they close. It costs me $1500 every month to keep that house.
Do you have any thoughts?
This residence is in the Florida panhandle. Thanks in Advance BP!!!