Re: How Do I Explain? - Posted by Karl (Oh)
Posted by Karl (Oh) on February 09, 2002 at 19:54:24:
Put together a purchase agreement and put down a deposit, but tell the seller that when they have moved out and are ready to surrender the home to you, you will give them the money. When that time comes, trade title for money.
I show homes with the sellers still living there all the time. I just ask both the seller and the buyer beforehand to please not mention any prices, our agreement is not the other person?s business, everyone has always agreed, no one ever minds. After we leave the home, I discuss it with the buyer. I tell the seller beforehand that I?m bringing over a buyer, but potential buyers fall through more often than not, the seller has probably already learned this. No one has ever tried to cut me out, the typical sellers and buyers just aren?t that swift. Plus, in a typical deal, you’re buying for cash, selling on terms, the buyer and seller couldn’t work out an agreement behind your back if they wanted to.
Its nice to have a home sold before you buy it.