Hey, gang -
Just received another "Contingent on Sale" offer on one of our Suburban Chicago IL listings. Anyone want to guess if the price on the contract was -
A. Respectably high, or
B. Ridiculously low!
If you guessed "B", you're right - but you knew that anyway.
And, wouldn't you know, the prospective buyer doesn't even have his home listed yet! When he does, says the inexperienced Buyer's Agent, of course he is going to build in some "negotiating room" in his own price. When will he list the home - after MY client accepts! How much time does the prospective buyer request to sell - four months, then another two to close.
In other words, let's play pretend real estate, if my client were to suddenly have a brain lapse and accept this offer, he would't close until late May of next year, if at all!
Some parts of the country have very challenging markets right now, even more exasperated by the time of the year. But buyers seem to be getting even bolder with their demands!
Who has an insight?
Also, see our consumer-directed blog posting on our BlogChicagoHomes.com Blog Center, which our Team originally posted on November 12th.
Dean & Dean's Team Chicago
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