I'm in a bit of a connundrum today. I have this beautiful property listed in Cherryfield NS with just over 57 acres of land. I was under the impression that the couple who are in the process of purchasing it really wanted to property. We have had a few complications main ones being winter, a right of way, and agreeing on the final closing. The buyers are now willing to walk instead of agreeing to an extension of three weeks so we can get everything done for them.
I'm sure everyone has had more complicated deals than this but I was hoping to get some advice on how the best handle this.
Ashley Marlin, Exit Realty Inter Lake
Born and raised in Nova Scotia; I am a life long resident of the south shore. I obtained my Bachelor of Science degree in Environmental Studies from Saint Mary's University. After purchasing my own and completing the EnerGuide for Houses process I saw an opportunity. I decided to combine all of my interests and become a real estate agent in the area that I love. Whether buying or selling, let me help you take advantage of all the potential your property has to offer. Call today for me today for a free consultation.
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I know the feeling sometimes you think if someone really wanted something they should wait. You have done your job there is really nothing else you can do; unless, you can find a way to cut their waiting time. I wish you luck.
Ashley...It sounds like the buyers have had a change of heart. Depending on your contract you may still have an enforcabl contract.
Hello Ashley,
Is the location of the ROW causing the buyers to rethink?
Hi Ashley,
Could you possibly close and put money in the escrow until the work is completed?
The main problem is the buyers have decided they don't want to give enough time to get things done.
The property owner with the right of way has agreed to move it, but he is in his eighties and needs a little time to get things done. The buyers aren't willing to give him time.
Ashley Marlin, Exit Realty Inter Lake
Ashley -- It's possible that the buyers are trying to sweeten their deal. One way to find out is to offer them some kind of incentive (not terribly expensive ... but not inconsequential, either) to complete the sale. If they really want to walk, the offer of an incentive won't make a difference to them. If they're looking for a better deal, though, you'll see their ears perk-up, and your deal will stick around a little bit longer. Don't forget to set strict conditions on the incentive offer. You don't want to have to do this again!
Chances are they are not being honest with you about the real reason they are backing out -- often times there is a "bigger picture" , or "more of the story" than they will share. For your sake hope it stays together, but sounds like they are just finding any excuse to get out.
Ashley - It might be time to ask the buyers some direct questions to determine if they have had a change of heart, or if they are trying to get more concessions from the seller(s). Motivated buyers and sellers who are flexible and willing to make reasonable compromises will usually complete the sale. Take away the motivation of either party and the probablity of success drops dramatically.