I'm a retired real estate salesperson and the answer is yes, the seller should continue showing the home & make every effort to sell it. As for the buyer, if the buyer is working with a licensed realtor, the 1st question during the vetting process should have been "How are you paying for your new home?" Any buyer planning to buy a home is either financing it with a mortgage OR paying cash or a combination of the two. The buyer must provide proof with either a pre-approval or proof of funds (cash sale). If the buyer has to sell their home prior to purchasing a new home, then the buyer MUST wait until the contract is signed by both parties BEFORE submitting an offer on a new home. Realtors are well aware that contracts can fall thru for a variety of reasons and a contingent offer should only be for a home inspection or appraisal.
The issue in this situation is if the buyer puts a contingent offer before his house is sold and the deal falls apart, then the seller of the new home could sue because that seller lost valuable marketing by removing the listing from sale.
During the preparation of the contract, it can be written that the closing date will be dependent on the closing of the buyer's home. This will give the seller a guarantee that the sale will go thru.... more
Solar panels are not an option. The cost is prohibitive, almost not recoverable. Never mind what the seller is saying, it is FALSE INFORMATION, designed specifically to make YOU buy these things. So forget solar for anything. Also, remember this, if you use batteries, and they all need batteries, these wear out also. Batteries are by design, meant to wear out by a formula in their manufacturing state. So again, forget solar. It will NEVER be cost efficient for the user.... more
My feeling is that it is the seller 's responsibility to provide the Certificate of Occupancy for the basement. Many times, a basement is finished to cover water issues, mold issues, foundation issues, electrical, and the list goes on.
Most likely, the Town will be happy to work with the seller to achieve the C.O. in order to close.
There may be a few bumps in the road that both the seller and the buyer may have to address, but if the the house is ideal for you and you really like what the basement is offering....
I would dedicate the time to see what the town's perspective is....
Perhaps, the town will pass the basement with some simple documentation from the original contractor.
The fees involved are rather nominal in the whole scheme of things.
The main objective in a situation like this is obtain a C.O. to ensure that there are no defects , no hazards that may be life threatening and equally important is to have the ability to sell the home in the future with a 100% marketability status.
Hope that this helps!... more