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Question
My home is up for quick sale. I received an offer which allows me 2 months move out time after closing. The bank has approved the offer for more than the buyer wanted to pay, so now the buyer wants eliminate the move out time and take immediate possession at closing. I need the extra time to move out, though I can cut it back to one month. My agent is pressuring me to come in and approve the revised offer saying it will probably be a week until closing anyway, and how the bank is anxious to close. Do I have any bargaining power here to get some extra time?
Hi Bill,
Your bargaining power really depends on the buyer's motivation. The bank has drawn the line on what it will accept as a price on a short sale. You can definitely instruct your agent to let the buyer know that you HAVE to have the extra time to move out as part of the contract, but you need to be prepared for the consequences if the buyer does not want to still buy the home because of that.
If the buyer decides to not buy your home at all, is that worse or better than moving out early? Has your home been on the market a while? Is another buyer easily obtainable at the price the bank is willing to accept and on your terms for moving?
You do not have to accept these terms - you just need to decide what is in your best interests looking at the big picture.
Hope that helps!!
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Diann Tonnesen
Expertise
I have over 25 years of experience in real estate in Las Vegas. I can answer almost any specific question about buying or selling homes, condos, high rise properties or land in the State of Nevada as well as general real estate questions that pertain to the industry as a whole. I can also answer questions related to financing on FHA and VA loans, conventional loans, interest only loans, stated income loans, and hard money lending. You can also go to my site at http://www.greatlasvegashomes.com which has lots of information on it as well.
Experience
With my husband I have been helping families call Las Vegas home for over 23 years and I still love it! We developed a strong niche in the Internet industry and had to start a team of agents to respond to the large volume of calls we were getting. Currently we have 18 full time agents, a sales manager, two leads managers and two transaction coordinators assisting us. Last year we helped over 280 families and investors find property in Las Vegas.
Organizations
Las Vegas Board of Realtors and the National Association of Realtors
Publications
PR Web, Las Vegas Review Journal, and interviewed for numerous magazines as well as a broadcast interview for television by CNN.
Education/Credentials
college journalism major
Awards and Honors
Top agent in the state of Nevada for sales multiple years when working for Century 21 and last year one of the top 10 agents in the country with Prudential.
Past/Present Clients
Just too many great clients to mention here, but I can certainly provide a long list of references on request. Or check out our web sites at:
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Vegas Real Estate
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