We would like an extended closing 60 to 75 days ( we have a rental lease that we can't break) and can't

Diane
Home Buyer

afford to pay both rent and a mortgage. Haven't made an offer yet, do you think seller would accept this?

Answers (3)
Lynn911.com Dal...
Agent
Dallas, TX

The seller could accept your offer it does take approx. 30 days - or + close on a home. Keep in mind that upon your closing you could have approx. 30 - 45 days prior to making your 1st mortgage payment.

I am a Dallas realtor and Dallas loan officer in some instances we rebate up to 50% of our commissions which could offset some of your expenses. We do place all of your terms in writing.

Contact 972-699-9111
Lynn
http://www.lynn911.com http://www.homes-for-sale-dallas.com

Web Reference: http://www.lynn911.com
Mon Dec 1 2008, 08:44
Bruce Lynn
Agent
Texas

Diane,

Every seller is different, but I would say this is in the realm of possibilities. Doesn't hurt to ask.
One thing to remember.....if you close Jan 30th, you won't have a February house payment and typically 1st payment would be due March 1st....since you pay your mortgage a month behind getting the money, there's often a time period where it might feel like a FREE month. You'll pay it later, but in the beginning it feels like this. This might help you to close faster or feel less pain, if the seller needs you to close faster.

Good luck

Web Reference: http://www.teamlynn.com
Wed Nov 26 2008, 07:19
Randall Sandin
Agent
Charleston, SC
FIRST ANSWER

Hi Diane - AS long as you have your financing in place, the seller may be very open to this. With the market being slow in most areas, sellers are really willign to work with buyers. If I was the seller's agent, I would ask you for some non-refunable earnest money to hold the property for that amount of time. Or you could offer that as an incentive for them to accept your offer. Hope that helps and let me know if you need a referral for a good agent in your area to assist you in this.

Happy holidays,

Randall Sandin
Carolina One Real Estate
843-209-9667

Wed Nov 26 2008, 06:35

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 15
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback