Agreed, thank you.
When I bought my last house, we had to ask for extra time, but we released earnest money to show we were serious. If they won’t, it might be better to cut bait now.
Give them the time but require a non-refundable deposit of $10,000. They’ll be more motivated.
Relisting the house makes it seem like there’s something wrong with it. Next, they’ll ask for cash back at closing for repairs.
Your agent should reach out to the lender to figure out what’s going on. Only then should you decide to extend.
Can you put it back on the market as contingent? Relist at the agreed price and give them the right of first refusal if a better offer comes in.
Last night my title company sent closing docs to sign, and the lender requested more documents last minute. It’s frustrating how this happens.
I had a buyer with financing issues too. I’d go ahead and extend to get it over with. That’s what I did.
We usually verify with the lender that the buyer can close. If they can, we ask them to pay the seller’s actual costs, plus something extra for aggravation.
They messed up with financing before. This is contract number two with more red flags about their ability to secure a loan. You need to decide if you want to risk another month with them or cancel.