AboutJay Denit Expertise I'm a Real Estate Broker/Loan Consultant in the state of Colorado. We have a separate foreclosure investing company, so I'm more than willing to answer any Colorado foreclosure questions for both the home owner and investor. I have sold bank owned homes all across the country for all of the big banks. I'd be happy to answer any questions about buying or selling residential homes and specialize in luxury estates. Furthermore, I have some experience in land acquisition and development and know a touch about water rights. We are a licensed lender in most states, so I can answer general questions about all types of mortgages.
Experience My experience is really anything that has to do with real estate. From buying and selling to investing and foreclosure, I’ve done it all. Being able to handle the acquisition and financing under one roof gives me the intimate knowledge of all facets of property conveyance. My foreclosure/bank owned property (REO) experience gives me the problem solving mindset to always find a solution.
Organizations BARA- Boulder Association of Realtors
NAR- National Association of Realtors
CAR- Colorado Association of Realtors
Education/Credentials Xavier University-- BSBA Finance
Colorado State University-- Professional Certificate in Project Management
Question My home was only listed for two days when I received an offer. The offer was made about three weeks ago, and I still don't have a commitment from the buyer. The offer was contingent on a home inspection, which she had, and the house passed. Minor things needed to be fixed, which I will do. Now, she decided she wanted another inspection, because she feels the first guy wasn't very good. He took four hours in my home, and looked in every nook and cranny. She also asked that the house not be marketed after her offer was accepted. So, it has been off the market for three weeks also. The agent I listed the house with, is also the selling agent, and he told me to be cooperative or the buyer will walk away. The problem is , I am building a house and I am stuck in limbo, and can't start construction till my house is sold. Do I have the right to give the buyer a deadline? My agent said no, because the contract was contingent on her satisfaction with a home inspection.
I have this feeling she is just going to walk away anyway, and my house is losing all this marketing time. What can I legally do to force her hand?
Answer Hi Andrea,
It sounds like you agreed to extend the inspection deadline, so the buyer could have another inspector come take a look. Is that correct? In Colorado we have a date (as part of the contract) that the inspection must be complete and the seller and buyer have come to some sort of agreement about what will be fixed etc. Your state is probably the same way. That fact is if a buyer wants out of a contract at any point, they can get out, as long as they are willing to lose their earnest money (good faith money). Your agent is trying to play both sides fairly and not make anyone too made since he is representing both parties of the transaction. He runs the risk of making you mad so he loses the listing and frustrating his buyers so they buy with another agent. It's a slippery slope:)
The good news is that your home sounds like it's great since you got an offer so soon! The worst thing that can happen is you lose this buyer and catch the next one that comes for a look. If I were you I would try and be patient with your current buyers and hope that you close in a timely manner. No matter who your buyer is you don't get your home "sold" or money until closing when the buyer's loan funds, and we want you to have that money to build your new house.
