Taking the property off the current inventory of real estate listings, how big a deposit, what sizes holds a property for sale?
Until the buyer can travel from out of state or perform whatever inspection, meet whatever delaying contingencies before finally proceeding to the real estate closing. Log jams, kinks that stop the flow of every day living are dangerous.
Time is money and delay in real estate marketing is costly.
As a Maine real estate broker who has to explain to the next hot to trot cash buyer that a property they are getting sweet on is already under contract, you want to be as sure as possible.
To uncover all the details, to look for red flags before advising a seller to sign this contract that takes the property out of serious marketing circulation.
What to do, should the seller accept this offer beyond just what is typed in the price blank on the contract software? Think long and hard. Have a seat. Sleep on it.
Before taking the property off the market effectively, careful study of the reasons for the delay in selling need pondering.
Considering the time of year and level of interest in the property also comes into play. Especially for waterfront property in Maine. When buyers may think of ice fishing and snow sledding in the dead of winter. But not eating grilled food on the open deck or tubing behind a jet ski, kayaking on like a bottle calm water.
Whatever makes study of more than the size of the deposit to "hold the property" so the buyer can go through the motions of whatever is needed to satisfy a bank or to provide time to finish up his last property sale in the domino of moving on to a new replacement piece of real estate to acquire. So does how many just like this listing is parked in the inventory. Is it feast or famine and what is the financial situation of the seller who may be just a few heartbeats away from losing the place due to cement shoe heavy economic strains pulling him to the bottom in a low point of his life.
If both the seller and buyer mutually benefit from the delay so be it.
But usually, delays of any kind in a real estate sale can be the kiss of death.
And we all know you take your first offer very very seriously.
Unless there is so so much attached to it that makes the chances of getting to a real estate closing on time or at all pretty dim. Slim to none because the way the contract to sell was structured was loose as a goose and very sketchy.
Nothing good happens the longer the sale is tied up on the operating table and the seller held hostage to death by paperwork, the fulfillment of contingencies. Read full real estate article on How Big A Real Estate Deposit Needed To Hold A Property?