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joslin_jeremy

Contingent taking a turn for falling through. Advice?

Jeremy
8 years ago
last modified: 8 years ago

My wife and I were pleasantly surprised when our 2-bed 2-bath Chicago condo went under contract after only 8 days on the market mid-August. But now it's more than a month later and we still haven't moved out of attorney review. Appraisal and inspection were both fine, but the buyer tacked on a long list of small repair/credit requests that five weeks later we're STILL negotiating. I didn't expect a stress-free process, and having navigated a short sale when we first bought five years ago I know there's a lot that can crash the process, but at this point I'm ready to say forget it and re-list in the spring.

I guess I would feel differently if we had found something in our own search we were desperate to buy, but it hasn't gone that way. We were waiting until the attorney review was done before making an offer of our own on something and honestly the delay hasn't cost us much of anything. And with a 3 and 1-year old at home, the idea of moving them to something temporary and then moving again if we can't get a pair of closing dates to line up is not sounding good to me. Ultimately, I think it's time we set a "take it or leave it" offer on the items we're still negotiating and see if it goes through or not. At this point I'm not going to be overly upset if it falls through, even if it means another winter in the city. Has anyone else been in a similar situation? What do you wish someone had told you at the time?

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