I`m currently marketing my home independently and I have secured a conditional sale on my property. The conditions are financing & most importantly that the potential buyer has to sell her home by a certain date to close our deal.
If I were to get another party who is interested in putting in an offer before my current buyer satisfies the conditions, I have a 72 hour clause where my current buyer has to waive her conditions and complete the sale. If she can`t waive the conditions and close on the house within 72 hrs, the contract is void and I can pursue a deal with the new party.
So my question is, if I have another party who is interested in putting in an offer, how much information can I divulge to them about my conditional sale? Can I tell them how much my current offer is for?
I also have a feeling that my current buyer would not be able to satisfy the conditions within 72hrs (ie. she wouldn`t be able to afford to buy my house & hold hers at the same time). Could I share this information with the new prospective buyer to reassure them if they were to put in an offer with limited conditions, that they`d have a good chance of scooping the house?
Can I also tell the new party the time frame for when my current buyer has to meet her conditions? Ie. "My current buyer has until Dec 1 to satisfy conditions and close the deal. If the conditions aren`t satisfied by that date the house is no longer conditionally sold..."
I just need some guidance on what I can divulge if I were to be put in this situation. Thanks for your help.
If I were to get another party who is interested in putting in an offer before my current buyer satisfies the conditions, I have a 72 hour clause where my current buyer has to waive her conditions and complete the sale. If she can`t waive the conditions and close on the house within 72 hrs, the contract is void and I can pursue a deal with the new party.
So my question is, if I have another party who is interested in putting in an offer, how much information can I divulge to them about my conditional sale? Can I tell them how much my current offer is for?
I also have a feeling that my current buyer would not be able to satisfy the conditions within 72hrs (ie. she wouldn`t be able to afford to buy my house & hold hers at the same time). Could I share this information with the new prospective buyer to reassure them if they were to put in an offer with limited conditions, that they`d have a good chance of scooping the house?
Can I also tell the new party the time frame for when my current buyer has to meet her conditions? Ie. "My current buyer has until Dec 1 to satisfy conditions and close the deal. If the conditions aren`t satisfied by that date the house is no longer conditionally sold..."
I just need some guidance on what I can divulge if I were to be put in this situation. Thanks for your help.