This property has now closed and this Buyer has a new rental property closer to home. The Buyer closed her side on Monday, but because the Seller was out of the Country, it was a mail-out. The title company did receive the package on Thursday, but we had Friday as the Close Date.
This Buyer called me when she decided to sell her rental property in Nebraska, and put me on notice she would be doing a 1031 exchange once her property went under contract. That only took one day, and we set off on the search for her replacement property.
Having worked with the entire family on many transactions, again, it was easy to jump in and know exactly what she was looking for. There was a property that came up before she had an executed contract, so had to miss out on that one, but another came up nearby within a day.
She will be a cash sale once the Nebraska property sells, and is closing end of the month, so thought it would be easy to close on this vacant property here in Denver. Not so much! Even though the Seller did sign the contract closing in June, he came back saying he is in Costa Rica and will not be anywhere near to sign papers until he returns to the US, which will be after the 4th of July. Thinking he (or his agent) should have thought of this when accepting the offer. BUT, Buyer is amicable, and accept the week and a half delay in closing.
The buyer is very excited to have the ability to see a higher rental amount monthly now in Denver vs Grand Island NE!