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Saturday, December 03, 2011

Home Seller Tips: How Long Should a Seller Wait for Closing?

I spoke with a For Sale By Owner (FSBO) seller in Viera today who said she has a second viewing of her home scheduled for today.  She also told the prospects she will need three months to close once they have an agreement.  I find most sellers want to close as soon as possible.

The real question here should be how soon can I close?

After finding out she wanted additional time to find her next Viera home I explained why I recommend sellers close as soon as possible.

Things happen....
  • People with jobs sometimes lose jobs or get their hours reduced.
  • People with mortgages sometimes go out and do something to kill their mortgage approval (like new credit card, new car, etc.).
  • People who are going to pay cash sometimes have things come up that takes their cash. 
  • People change their minds and decide to walk even if they forfeit a deposit.  
  • People find other places they like better while waiting.
  • Accidents, illnesses, divorce and other family changes happen.
Sellers should accept contracts with limited contingencies (financing, inspections for example) with short time frames and expect a closing in 30-45 days.

Waiting only increases the potential for a deal to vanish before their eyes................

When you are ready to buy or sell in Viera, Florida, call me at 321-693-3850.

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