- Joined
- Sep 9, 2009
- Messages
- 19
A couple of weeks ago, we (and 6 others) put an offer on a property that is owned by the bank (foreclosure). The bank chose our offer over the rest of them and we proceeded to get financing, complete the inspection and other due diligence.
The property is worth well over what I purchased it for, though a little dated.
About a day after we removed conditions, I get a call from one of the bidders, and he'd like to purchase the property for more than I paid for it. After some negotiation, we've arrived at a price we are both comfortable with, now comes the hard part.
How do I accomplish a simultaneous close, when it wasn't my intent at the beginning (so no "and/or nominee" in the offer)?
The closing date is fast approaching and I'm looking for advise from the REIN network. I'll be contacting Barry McQuire shortly for his take on the situation, but I thought I would put it out to the REIN network, for some tips, ideas and strategies...
The property is worth well over what I purchased it for, though a little dated.
About a day after we removed conditions, I get a call from one of the bidders, and he'd like to purchase the property for more than I paid for it. After some negotiation, we've arrived at a price we are both comfortable with, now comes the hard part.
How do I accomplish a simultaneous close, when it wasn't my intent at the beginning (so no "and/or nominee" in the offer)?
The closing date is fast approaching and I'm looking for advise from the REIN network. I'll be contacting Barry McQuire shortly for his take on the situation, but I thought I would put it out to the REIN network, for some tips, ideas and strategies...