Post # 1
Here’s my issue. My husband and just put an offer in on a house and it was accepted (wooo!!!). but there was already a conditional offer (from a few months ago) on the house. the couple put an offer in with the condition they sell their current home (they and the realator said not many people were even interested in lookinh at it). They have 24 hours to firm up and buy the house or let it go to us.
So guess my question is what are my chances of getting this home? would you buy a new home with your old one on the market forevever? find out at 6 tomorrow but wait. its eating away at me. whats your opinion on the whole situation.
Post # 3
I say your odds are really good, 24 hrs is not very much notice when their condition was the sale of their house. Good luck!
Post # 4
I doubt they’re going to want 2 mortgages, and if the house hasn’t sold, I doubt it magically will in the next 24 hours. Even if they did get an offer, it takes much longer than that to go through the whole process.
Fingers crossed for you, looks like you might be getting the house 🙂
Post # 5
We just sold our house and ended up with two offers like this, and the realtor for the second couple told us straight up that he would be very surprised if the first couple firmed up their conditions. He said it’s pretty rare for people to take the risk, and we have a 48h notice period here, which gives them twice as long to weigh the odds. So I voted that your odds are good. 🙂
Post # 6
thanks. feel better. ill let you all now at happens. ahhhhh
Post # 7
I agree with all PPs, odds are looking good!
Post # 8
Keeping my fingers crossed for you!
Post # 9
Thanks everyone!!! We got it!!!! so happy
Post # 10
@nibbler: Cingratulations! Good luck with the rest of the process!
Post # 11
- Wedding: September 2014 - Lodge
@nibbler: We had a VERY similar situation happen to us. We put an offer on a house and needed to sell our house but the sellers put the condition that we had 2 weeks to sell our house and then put a 48 hour clause meaning after our 2 weeks were up they had to give us 48 hours notice to either pay up or lose the house. Obviously no one can sell a house that quickly and we were frantic. On the last day of our 2 week grace period we made a counter offer which they accepted and gave us more time to sell, we ended up selling our house within a week later.
During that 2 week period Fiance and I tried to see if we could still get the loan on the new house until our current house sold and it was impossible. We had to have a co-signer and no one we knew was able to do that. Either people were retired, not enough credit built up or whatever. Most banks won’t give you a loan while you currently own another house you need to sell in order to get the money for a down payment as well as pay off whatever you still owe to the bank on that loan.
I say your odds seem pretty good for getting house. In rare occasions does it work out for the person who has to sell but I say if they haven’t been able to sell yet the odds are in your favor.