Home seller question


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Timon   
Member since: Mar 04
Posts: 297
Location: Greater Toronto Area

Post ID: #PID Posted on: 06-12-10 10:20:41

Here is an issue with my friend.

He is working on a job in US,but, dont have an offer yet and the terms are not negotiated yet

He put his house in the market (big winter coming, market will be dead post Xmas, not quite anticipating a quick sale). Got an offer the same day.

What are the options he has? He is not quite sure of the US offer. Can he sell his house conditionally? Is it possible?

He doesnt really want to let the offer go...since we are getting closer to christmas.

Any thoughts from the real estate experts?

T


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"The grass is not, in fact, always greener on the other side of the fence. Fences have nothing to do with it. The grass is greenest where it is watered. When crossing over fences, carry water with you and tend the grass wherever you may be"


pratickm   
Member since: Feb 04
Posts: 2831
Location: Toronto

Post ID: #PID Posted on: 06-12-10 14:34:41

Since it sold quickly, I assume he got his full asking price.
I don't believe you can do a conditional sale and tie it to a job offer abroad like this - no buyer will be interested in this.
I suggest if his confidence level is high on the US job, go ahead with the sale.
Negotiate the closing date with the buyer such that he doesn't have to rent until he moves.
But if the closing date cannot be flexible, then he may have to rent for a while.


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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"




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