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Second in line with offer

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PLORRAINE

Guest
We have made an offer on a home in CO. However, we are second in line. The people with first offer are waiting to be approved. How long do they have? Shouldn't there be a deadline date by which they must approved and sign a purchase contract?
 


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PLORRAINE

Guest
I wish I could completely trust my agent. Unfortunately, I feel like someone is not being completely honest. Initially, my agent said that they had till middle of month. Then he said "around" May 24. Now he is saying June 4th. Is that comman practice to keep extending the date. I would think the binder agreement would indicate by which date they should be approved and have their current home sold. We are all approved and have the cash avaiable to get into this house. Actually, we have 80% down - so financially there would be no concerns at all. We would really love to get into this house. I am afraid my agent wants us to buy a more expensive home since he knows we would qualify and he would get larger commission. He wants us to go look at more homes this weekend. Therefore, I feel he may not be pursing this particular transaction for us too agreesively. Appreciate any advice.

 

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