The Standoff
Yesterday, I wrote about my efforts to get the buyer’s agent to remove all contingencies. Here’s a little update on how it finally played out.
July 26th, 5pm: My agent calls. She has let the buyer’s agent know that I would indeed cancel the sale if they did not remove contingencies as required.
July 26th, 5:30pm: The buyer’s agent calls and then assures me again that the deal will go through. He’ll have the signatures for me at 10:00am on Sunday.
July 27th, 10:15am: I call the buyer’s agent. He says he’ll be by my home in half an hour.
July 27th, 10:45am: I call the buyer’s agent again. Yes, he’s coming, he says. (Perhaps I should put him on speed dial?)
July 27th, 10:55am: I call the buyer’s agent a third time, inquiring about his whereabouts. He says he’s on his way and then hangs up the phone quickly. (Ouch!)
July 27th, 11:00am: The buyer’s agent shows up. He has all the paperwork, but insists on a trade-off. I need to sign for an early closing date in order for him to remove contingencies. He explains the buyers need to close early in order to lock in their rate. Reluctant (as usual), I sign.
From what I understand, the prolonged contingency period seemed to have to do with the buyers getting the loan and/or rate they wanted. Oh, and of course there’s that big deposit they’d have to forfeit once they removed contingencies. If anyone here has a better idea, feel free to drop a line.
Oh, and here are some just-listed properties in the LAX area.
Just Listed in Playa del Rey: 8650 Gulana Ave., #L2168/1bd, 1bth/$329,500
Just Listed in Playa Vista: 13173 Pacific Promenade, #224/2bd, 3bth/$768,000
Just Listed in Westchester: 6431 W. 85th St./2bd, 1.75bth/$699,000
