9 thoughts on “Oops..spoke too soon!

  1. Do you see more accepted offers failing to make it to closing lately? If so, for which reasons?

    Also, do all accepted offers have no contingencies (inspection, mortgage, etc)?

    Last, what is your take on brokers continuing to entertain offers during this phase of a transaction? Thanks!

    • Anonymous:
      I do NOT see more “accepted offers” failing to reach closing, mostly because listing brokers are typically reluctant to report “A/O’s” in the first place. The listing broker has a responsibility to keep showing the property until those contracts are signed, but as a service to other brokers, and if the A/O looks pretty strong, the listing broker will report the A/O along with the phrase “continue to show”. Brokers do this because bitter experience has taught us that buyers can be fickle creatures (in any market, not just this current mediocre one). And I often remind my sellers not to start chilling the champagne just because they have that accepted offer. Finally, no, if it’s just an “accepted offer”, there are almost certainly contingencies that must be dealt with before the contract is fully executed..

  2. Do you think that more offers are failing to make it to the closing table? If so, what reasons do you think that might be?

    Also, are the items classified as “accepted offer” without contingencies (inspection, mortgage, etc.)?

    Thanks!

    • Anonymous:
      Assuming you are the same “Anonymous” as the other one, here is a little expansion of one part of my previous answer…Listing brokers MUST MUST MUST keep showing that house during the “accepted offer” phase. The reasons are, as previously stated, because sometimes buyers walk away, but also, frankly, there might be more money out there! My view is that a seller has the right to keep looking for a better buyer just as a buyer has every right to keep looking for a better house until that contract gets signed.

  3. Nice Condo at 155 FIELD POINT RD. I could easily live there and its but a nice stretching walk over to CCRRC for a decompression session. Alas, wife want’s to stay put.

    • xyzzy:
      True! Besides the two that came on today, I assume you’ve heard there’s a “direct” deal on #46, the waterfront. Let’s keep in mind that all of these sellers are 70+….maybe 80+.

  4. Let’s keep in mind that all of these sellers are 70+….maybe 80+.

    So what your saying is that their T&E counsel are telling ’em its time to get the heck outta Dodge for the warmer weather and the much friendlier estate tax environment of Florida?

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