Updated almost 5 years ago on . Most recent reply
Confused Buyer(Seller Doesn't Want to Sell)
I had a property under contract and initially the sellers only wanted to give me two weeks to close but we immediately requested more time for appraisal and title search and they gave us an additional week. The earliest the lenders could schedule the appraisal was for the following week, so we fought for more time and they extended us an additional week. So I go back and request to extend closing by two additional weeks and they say no so we cancel the deal only for them to put the property back on the market and will likely still be there beyond the date I requested to have closing extended to. It seems like they don't want to sell the property. What reason would a seller have to not extend closing?
Most Popular Reply
They are absolutely doubting your ability to close at this point. With everything going on right now, sellers do not want to waste time. Inventory is way too low across the board. Maybe they need proceeds for their next purchase, maybe they have back-ups in line or received more interest while under contract, but regardless they want to get it back onto the market and try their luck with new buyer. You cannot blame a seller for this if a buyer cannot close when they said they could.
As an agent, I'd be very worried if a buyer has asked multiple times to delay settlement. You must be extremely transparent and great at communicating in these circumstances so they can remain confident this can still get to closing.