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
Report Abuse
Answer this Question


Steve J.
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
Report Abuse
Chris R.
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
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question