A R I P By Any Other Name

A R I P   By Any Other Name

 ARIP by any other name means Attorney Review In Progress.  What does that mean to the rest of the buying public?  An offer was accepted and the attorneys from both the buyer and the seller are looking at the contracts so that their clients are protected.  Other buyer prospects are generally not allowed, only if the seller is looking for backup offers will they allow you to view their property. 

This weekend, a buyer was really excited to see a home she had been looking at for months.  When she finally asked if she could see the home, it was Under Attorney Review.  So, I told her that we could not view the home because of this.  She asked, "What did that mean?".  So, I had to tell her that the seller accepted an offer and they were beginning the process of the sale of the home, which was having both attorneys for the buyer and for the seller look at the contract of sale to see that thir client's needs are being served.  

The sad lesson to be learned from this is that even in buyer's market, if you see a home that looks right for you but just outside your price range, go view it.  You never know if you must have it or if the home really wasn't for you after all.