Someone else buying the home we want...

**Kippen** · 06-27-2008, 11:58 PM

We would very much like to buy a home that is being purchased by someone else. This buyer, after everything was signed around, had cold feet fearing that they would not have enough money to make the additions needed so that their large family could fit. Finally, they decided to buy the house. I mention this because I get the feeling that they are a bit strapped for cash and might have felt obligated to buy the house out of concern of losing earnest money. (Of course, this is all conjecture on my part.)

Is there anything we can do at this point to convince the buyers to allow us to buy the house?

Thoughts on how we could make this an appealing offer?

(The current owner would like to sell it to us and would be willing to work with this.)

Thanks so much for any advice!

**Codythebest** · 06-28-2008, 06:16 AM

So "this buyer", who is the "current owner" then, is willing to work with you?
So where's the concern? Just knock on the door again (assuming you did it already in the past since "the current owner is willing to work with you") and negociate a price. My guess is he will not accept to lose money, but at least to recoup his buy at the first place. So, roughly, his price is yours. I don't see any problem here...

**Kippen** · 06-28-2008, 07:18 AM

I should have been clearer. The person selling the house is willing to work with us. (Which brings up another question, at which point does the buyer become the owner --after it has been signed around?)

**jamesww** · 06-28-2008, 10:22 AM

Originally Posted by Kippen

I should have been clearer. The person selling the house is willing to work with us. (Which brings up another question, at which point does the buyer become the owner --after it has been signed around?)

The buyer becomes the owner after the contract has been fully executed and the deed transfering title has been signed by the seller. If the transaction has not closed (been executed) then I would have your agent get in contact with the other buyers agent and suggest some sort of payment to allow you to be assigned to the current purchase agreement as the buyer. Who knows maybe you can pull it off. The worst thing they can do is say no as long as you approach it on the up and up. PM if you have any further questions.

**Cedar City Utah Realtor** · 06-28-2008, 12:51 PM

Tell the buyers you will pay them $500 dollars to assign the contract to you. That would make you the buyers and give the current buyers a little cash.

**Greg** · 06-28-2008, 01:04 PM

Originally Posted by Cedar City Utah Realtor

Tell the buyers you will pay them $500 dollars to assign the contract to you. That would make you the buyers and give the current buyers a little cash.

Having the contract assigned to you would be your best shot at getting the house. If $500 doesn't work try $1,000 or more. Good Luck.

**Kippen** · 06-28-2008, 01:10 PM

I assume this has to be done before they have closed?

Thanks for the advice...

**Greg** · 06-28-2008, 01:37 PM

Correct, a contract can only be assigned before closing. After it has closed there won't be a contract anymore and the buyer will have the closing costs to add to their expenses.

**Malok** · 06-29-2008, 09:17 AM

Money & a sparkling personality can generally make things go the way you want - unless there is an emotional involvement in the transaction that would make a party want to do something different.

**OregonLO** · 06-29-2008, 12:11 PM

well I think most people touched on it but hey you can always see if they are willing to back out of the deal and allow you to take it instead. You never know until you ask