Profile picture for Buyer in Ossining

Week and a half between agreeing to buy until home inspection due to seller being away

A couple days ago I finished price negotiations to buy a home. It turns out the seller is away on vacation for the next week and a half (I did not know this when I bid) and wants to wait to do the inspection and contract until he returns. As the buyer with an acceptable offer on the home, I feel this puts me at a disadvantage because it gives the seller an extended period to find other potential buyers to outbid me.

Is this an unusual situation? Is it reasonable to ask the seller to do the inspection sooner, or ask for some sort of protection against having my bid used as a tool to solicit higher bids?
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December 28 2013 - Town of Ossining
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Profile picture for wetdawgs
Last I checked it was Dec 28th.   At this time of year, lots and lots of people go out of town for a week or two.   It can be inconvenient, but it doesn't mean it is a dead deal.       Yes, it is true others work on Christmas Day and New Year's Day (and other significant days), but not everyone is of that ilk.

Congratulations on finding a home that you placed an offer on.  May all go well.
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December 28 2013
Things are different in New York than in other parts of the country; I'd go with the advice of your attorney!
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December 28 2013
There is nothing you can do if the Seller's timeline doesn't match yours. You do know you made an offer during the two most traveled holidays of the year, that fall a week apart, don't you? Delays of this kind are expected this time of year.
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December 28 2013
Every state is different, but in Georgia we
1. write an offer
2. negotiate an the offer which includes an inspection period that will start as soon as the contract is signed by all parties
3. sign the offer
4. do whatever inspections we like
5. accept the home or reject it based on what we found out from inspections

I wouldn't spend money of the inspection until I had a purchase contract written to protect me from other buyers swooping in. If you do not have an agent...you can probably pay one a small fee for help. In some states...an attorney writes up the contract and that's the first money I would spend.
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December 28 2013
Profile picture for Buyer in Ossining
From my experience buying three homes in this area (also verified with the attorney and inspector with whom I'll be working), common practice is to agree on price with the seller, then have the inspection done, and then have the purchase contract drawn up.

In any case, I've been in touch with the seller's agent and am pushing him to do an earlier inspection so we can write up the contract.
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December 28 2013
1.  This is unusual
2.  It is reasonable 
3.  There really is not protection accept the contract

Best of Luck
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December 28 2013
Then you have no reason to be doing home inspections anyway. I assume you have no Realtors involved, so you will need some good luck to get this done.


tim
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December 28 2013
Profile picture for Buyer in Ossining
Thank you for sharing your thoughts. There is no contract yet. Just an agreed price at this point.
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December 28 2013
Out bid you? Are you in an auction? No, you have a contract and so the seller can't just go find another buyer. You do have a contract? I hope you are working with a Realtor to help explain all this to you. It makes little difference when you do the inspections as long as you are in the period of time allowed to do them and walk away if you don't like what you find out. This is all addressed in an offer to purchase.


Tim
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December 28 2013
 
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