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11789 : Real Estate Advice

  • All4
  • Local Info1
  • Home Buying2
  • Home Selling1
  • Market Conditions0

Activity 4
Mon Nov 12, 2012
De Vonte Williamson answered:
Hello Judith. You did not provide a property to reference. If you could provide us with the MLS number or property address, we could better assist you.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you all the best,

De Vonte Williamson
Licensed Real Estate Salesperson
Proudly Serving Long Island
Coldwell Banker Residential
Mobile: (631)384-3695
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Wed Feb 24, 2010
Keith Sorem answered:
When you buy a home there is a period of time when you conducting your inspections, referred to as the "contingency period". During that time the MLS rules normally allow the property to have a status known as "Back Up Offers" or something similar.

If after the inspections you opt not to buy the property, the seller is not a square one. While you were inspecting the seller continues to accept "back up offers" in case you back out.

Once the contingencies are removed, you as the buyer are locked in to the purchase, the seller is committed, the property should be listed as "Pending", meaning that no more offers are being solicited or accepted. Only in rare circumstances will a Pending property come "back on the market".

If you think that a Realtor is not following the MLS rules (which vary by association), I would complain to the local association of Realtors. See the link below to find out more.
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Fri Oct 24, 2008
Lawrence&Sheila Agranoff answered:
Can you afford this? On Long Island short sales can take upwards of 6 months before you even hear if your bid has been accepted, and many short sales are disappointments to homebuyers. Just make sure you can handle them both. ... more
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Tue Oct 21, 2008
Pat Vredevoogd Combs answered:
Absolutely, You can't afford not to inspect the home unless you have someone close by that can do it for you. There are inspection services that you could hire if you are serious about the purchase - but don't go into anything (no matter how good a deal it seems) without knowing that you can do any work and it won't send you spinning into a bad situation. ... more
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