Home Buying in Detroit Lakes>Question Details

Confused, Home Buyer in Detroit Lakes, MN

???? What is this all about... "buy the house or we will take it off the market & rent it".

Asked by Confused, Detroit Lakes, MN Tue Aug 17, 2010

My husband & I have found a house we a very interested in. The house has been on the market over a year. We have a house to sell that we need to get ready - wash windows, touch-up paint, & stage. Our daughter is marrying in 3 weeks, so we are unable to put the house on the market for 4 weeks. The sellers realitor told our realitor that the owners plan to take the house off the market so they can list it for rent until next Spring. Our realitor told us we have less than one week to decide or it would be off the market. I told her we had to give our attention to our daughters wedding but that we were very interested in the house. I told her the owners would have to do what they needed to do but that we could not be ready until the week after the wedding. Are we being unreasonable? Thanks

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No you are not being unreasonable.

It may just be that the Sellers are frustrated or it may even be an agent trying to get you to make a decision now.

If the timing is not right for you, then it is not right. Don't worry too much. Even if the house is not on the market, you still know that they want to sell. Hire yourself a buyer's agent when you are ready and have them approach the homeowner and ask them if they still want to sell. Just because it is not on the MLS doesn't mean it can't be bought or sold! I work with non-MLS properties all of the time. Just make sure you talk to the agent about this before you hire them. Get someone who is not shy and who understands the Shadow Inventory of non-MLS properties.

Take care and good luck!
1 vote Thank Flag Link Wed Aug 18, 2010
Confused, put yourself in the Seller's position. At some point on the calendar, you decided that if it hadn't sold, you would rent it out. A week before that, someone says, "Gee, we're interested in your house, but we're at least a month away from being ready to buy, and we might be buying contingent on selling our place."

You might just figure, a year is enough time to have it on the market; anyone interested in the house now who isn't ready will just have to find another one.

It has nothing to do with being reasonable or not, it's just that the Sellers have decided they're tired of waiting for a buyer.

All the best,
1 vote Thank Flag Link Tue Aug 17, 2010
I assume the sellers are having some cash flow issues. Assuming that it is vacant, and especially since it has been on the market for over a year, the sellers have hit a point that where they either need to rent it or sell it. This time of year you can run into this; especially considering that winter is around the corner. The risks and costs of having a vacant house in Minnesota over the winter can be too much for a seller/owner to handle. If it's not vacant, it sounds like the seller is planning on moving out...right? Their approach does not seem to be advantages to either party, and them renting out the property out may only be a temp. fix. If you can't accomadate to their schedule (as your daughter is getting married), wait until next year as it may even be a better deal :).


Scott Hutchinson
Edina Realty
scotthutchinson@edinarealty.com
http://www.scotthutchinson.edinarealty.com
C: 612 396-0692
F: 952 892-7163
1 vote Thank Flag Link Tue Aug 17, 2010
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