Home Buying in Muscatine>Question Details

Firsthomebuy…, Home Buyer in Muscatine, IA

My husband and I are purchasing our first home. We have an accepted offer, completed inspections, earnest

Asked by Firsthomebuyer, Muscatine, IA Tue Aug 25, 2009

money cashed and all we are waiting on is closing. The problem is the listing agent of the home will not put an offer pending, sale pending or take it off the market. From what I can see from around town this is not normal practice. When our agent approache him about this he states that he wants his listing to sell and believes we are fly by night kind of people and cannot be trusted to back out of the deal. Even though we have done everything they have requested of us, even the things that are not normal practice in Iowa. Is this normal or is what he is doing wrong?

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Not sure how Iowa works, but in Illinois you must flag the listing in the computer within 72 hrs. of accepting an offer. Check around and see if that's the case. If there are similar rules there, call the broker and get that corrected.
0 votes Thank Flag Link Wed Aug 26, 2009
Yes financing is in order complete loan commitment and all. Proof of funds for down payment. Closing is scheduled for September 30, 2009 per the seller's request. I understand keeping the sign in the yard but he is also keeping it active in MLS. We are first home buyers so we are not selling a home.
0 votes Thank Flag Link Wed Aug 26, 2009
Even though things look good, lately alot can happen before the closing. I have a good buyer right now who is suppose to close Friday but now it looks like we won't close for a couple of more weeks. The listing is marked in the MLS (listing service we use) as pending but the sign is still in the yard. Around here this is normal. Once you put up a sold sign the interest stops. By leaving it up until you have a clear to close, you can still get interest and at least explain what the current situation is. (We are just waiting to close, I have a shakey buyer, etc.). If you are just waiting to close and your financing is done, don't worry about it. You have a deal at this point and if anything else were to come in, that would have to be a back up offer.
0 votes Thank Flag Link Wed Aug 26, 2009
Do you have your financing in order?
0 votes Thank Flag Link Wed Aug 26, 2009
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