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

Asked by Diane, Wed Nov 26, 2008

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

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Dallas Texas, Agent, Dallas, TN
Mon Dec 1, 2008
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
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference:  http://www.lynn911.com
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Bruce Lynn, Agent, Coppell, TX
Wed Nov 26, 2008

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
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Randall Sand…, Agent, Charleston, SC
Wed Nov 26, 2008
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
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