The Buyer Just Lost Her Job

It was my job to deliver the disappointing news just two weeks before closing, “The buyer of your house just lost her job and is canceling. Which means your purchase is at risk of canceling too.” (Painful pause) “So here’s the plan: we negotiate your purchase into a 48 hour contingency sale. We re-list your property at the modestly reduced price of the previous agreement and start a full court press with marketing.” Five days into the plan the dreaded call came, “The 48 hour notice to remove your contingency starts NOW.” A dejected and emotionally exhausted client said, “Screw it, cancel the purchase, cancel the listing. We need a break.”(Sob sob) My advice? “We have until Friday evening at 11 pm. Why not give the market a chance?” Thursday evening received positive feedback from a showing. Friday late morning offer received subject to inspection. Counteroffer Friday afternoon offering home warranty in lieu of home inspection. Buyers resisted. Copy of prior buyers home inspection and proof of repairs which had been completed were sent electronically to buyers agent at 9:30 pm. Buyer wants to drop price a couple grand. Told accept offer as proposed by 10:30 pm or no deal. Saturday price will be back to full list price or off the market entirely. With 20 minutes to spare at 10:40 pm, we finalized a non-contingent sale of their home and removed contingency for their purchase. Closed without issue 30 days later. Moral of the story…have a little faith and have the Joyer Home Team sign in your yard.