offer: assigns, 90 days, 5 extensions to = 9 months w/ 1500. deposit...for real? deal or no deal? all or 0.

We've been talking for 5 months, a contract offer comes with little money up, long closing if at all, with assigns. No risk to the buyer and ties me up from leasing or selling for almost a year. Who does this? Why not just buy it or put up non-refundable deposit, or better yet, lease it for the time with option to buy? Is this a real offer? I've been told certain companies operate this way. He is a broker but doesn't mention a buyer. I would have no option to cancel. Your thoughts on this please?
In Selling Property - Asked by Billie H. - Feb 20, 2011
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Answer(s)

Steve J.
Owner/Investor
Irvine, CA

not a real buyer in my opinion. Sounds like he is trying to tie it up then assign to someone. I wouldnt do it. or at least make the money go hard after 30 days.

Feb 24, 2011
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Chris R.
Broker/Agent
Denton, TX

What you have simply is an agent getting the property under contract and then going out and seeing if he can get a buyer and/or sell it for more than he has contracted for. I certainly would not let go on very long. Not a real buyer..... stringing you along. A reputable professional agent would not participate in that sort of activity.

Apr 8, 2011
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