It can be QUITE frustrating. You get through the negotiating process, the building inspection, and contract signing, and then the buyer seems to proceed in virtual Slo-Mo .
The closing is set for one date, and then it gets pushed off. It gets pushed off again, and yet again. I sincerely hope that no seller has to go through this scenario, and unfortunately it happens. Actually, it seems to happen more frequently these past few months.
Your first inclination is to blame "some one" or " some entity". Now while someone or some thing s certainly slowing up the transaction, it doesn't help to get angry about it. It just never gets you anywhere except discouraged.
If you are in the midst of a snails pace transaction, ACT. Don't let things sit. A push ( or a number of gentle pushes, by either your attorney, your agent, or both will generally speed things along. Your professionals are on your side, and you are not alone.
When is it time to just say NO MORE delays?
That can be a tough question to answer without having all of the information. Best to speak with your attorney about it.
A few points to consider:
Have the buyers always proceeded slowly?
Is the buyers agent experienced enough to know how to direct their clients?
Is the mortgage company backed up, and the repeated delays are truly no fault of the buyer?
Has the buyer (through tehir attorney or Realtor) kept your attorney or your agent notified throughout, or have they waited to the last minute each time there was a delay?
And lastly, do you have another buyer waiting in the wings to purchase your home? If you do, when does it become worth it to tell your original buyers, "Good Bye".
This can be a difficult decision to make, so do not make any kind of commitment either way without speaking at length to your attorney and/or Real Estate Broker at length to discuss the ramifications, and future possibilities. Most often, BUT NOT ALWAYS, try and stick it out with your buyer if it makes sense.
Buying or Selling a Home in Fairfield County? We'd be honored to represent you.
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If you have a question about buying or selling Real Estate in Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy