I have a home located in the islands. I need to sell this house ASAP so I can pay bills that I am behind on. My question is this the house is worth lets say 260 dollars (hypothetical), I have a serious buyer ready to sign and close tomorrow for 180. I paid 220 dollars for the house. In addition I have to "liquidate" the renteres that are in the house so they will get out. I have another offer for 210 dollars, I would not have to ask the renteres to leave, and they will give me an answer by 10:00 a.m. tomorrow. At 10:00 am the first buyer will be on a plane to the US to finalize the deal. I really need the money to support my family and to invest for our future. and there is a 50 dollar diffrence. What would you do. You have to sell, because your family's situation depends on you. It could be months before another buyer shows interest. What should I do.
2006-09-27 08:50:54 · 7 answers · asked by la gringa 1 in Business & Finance ➔ Investing
You could try to put pressure on both buyers. Tell the $210 buyer that you need an answer sooner, or you may have to sell it to the other guy. Tell the $180 buyer that he better raise his offer, or you may have to sell it to the other guy.
Depending on the level of committment you made to the $180 buyer, you may not have to worry about him wasting a plane trip. When he arrives, tell him there's been another offer and he has to match or exceed it. It may not feel like a polite thing to do, but the deal isn't final until it's final, and that's the risk he took when he bought his plane ticket. That way you wouldn't have to pressure the $210 buyer for a quicker answer, and risk them walking away.
2006-09-27 08:55:06 · answer #1 · answered by rainfingers 4 · 0⤊ 0⤋
assuming that you don't have a mortgage on this property, i would tell the 180 offer you have a higher bid and see if they might raise their offer.
if not then i would take the higher 210 bid and not have to deal with renters if possible.
what confuses me is why would the 180 offer be on a plane to finalize if you have not already agreed to the deal and they have given you down money. if you made a verbal agreement to accept the 180 offer you must abide by it or they can sue you for breaking the contract which could cause you further financial problems. If you received good faith monies, then you definately cannot change the deal, unless you return those monies and they can still sue you for all the costs they have incurred to close on the property.
You need to consult your real estate attorney.
2006-09-27 09:05:41 · answer #2 · answered by roaddogs_squeeze 2 · 0⤊ 0⤋
Tell buyer one that you have a better offer, but will give him a chance to increase his offer. Your panic to sell might already been telegraphed to both buyers and that could cost you.
2006-09-27 08:59:52 · answer #3 · answered by united9198 7 · 0⤊ 0⤋
Do you propose they began foreclosure because of the fact the owner filed financial ruin? if so, then particular, the economic employer has to commence all over lower back because of the fact the owner submitting financial ruin resets the whole technique simply by financial ruin protection.
2016-10-01 10:35:45 · answer #4 · answered by erlebach 4 · 0⤊ 0⤋
sell
2006-09-27 08:54:25 · answer #5 · answered by questions of garry 1 · 0⤊ 0⤋
sell sell
2006-09-29 00:30:06 · answer #6 · answered by Anonymous · 0⤊ 0⤋
buy first and sellm it
2006-09-27 08:56:07 · answer #7 · answered by brook 2 · 0⤊ 0⤋