<p>^^ That is… In RESIDENTIAL Realty. I have contracts in commercial realty that has a contingency of over 2 YEARS and the deposit, unless its marked NON-REFUNDABLE, will be refunded if buyer cancel.</p>
<p>The “residentail realty” is defined as 4 units residential or less.</p>
<p>Why would somebody tie up his property for 2 years?</p>
<p>Does he get paid for tieing up the property?</p>
<p>Yeah, i guess inspection is a standard out, whether the item is major or minor.</p>
<p>Yes, according to our Realtor, buyers are using this as an “out”. They put in an offer, and by the time they get an inspector out there and get some days to review the report, a couple of weeks can go by. In the meantime, they’re still out “shopping” and may fall in love with another home.</p>
<p>The frustrating thing for a seller is that at that point, the home is no longer “brand new” on the market, and will now be expected to take a lower price. :(</p>
<p>
</p>
<p>How about gain 10 million?</p>
<p>
</p>
<p>Some times do, some times don’t…In commercial Real Estate, anything and everything goes… no set rules…</p>
<p>Well…my wife works in commercial real estate and it is a market where everything goes…</p>
<p>But I haven’t heard of 2 year lock ups…</p>
<p>Six days til closing. Moved into rental today. Feels weird after living in the same house for 23 years. Won’t feel totally comfortable/able to celebrate until the papers are signed next Thurs. Our realtor says the buyer can “have a bad hair day and decide he wants to back out of the deal at any time”. Counting the minutes til 4/26.</p>
<p>I vote for gray for the porch floor.</p>
<p>
</p>
<p>Is she mostly in leasing? Can’t imagine she can’t think of the property type warrant a 2 year escrow. How about 10 year escrow? I have seen many of them.</p>
<p>Packmom, good luck, I think it will close. A hair do is not as important as the house…:)</p>
<p>Development…</p>
<p>^^ I was in a deal, the negotiation took almost two years, a letter of intent was finally agreed upon…The contract… maybe another year!</p>
<p>Anyway, the buyer will only put a token amount for deposit to open escrow and won’t release a penny during the escrow and he can back out any time… The seller open arms to accept, but at the end, the deal fall apart due to the 2008 down turn… It would be a 4 year escrow… and I could be counting my pennies today…:)</p>
<p>Ok…deals taking years…yes…</p>
<p>My wife is working on a deal…5 years so far…</p>
<p>Did get something built…took 7 years…</p>
<p>More good news in my town. Two houses just on the market in last two weeks. One sold in 1 day and the other, which had been on the market maybe 1 week, sold to the first person who looked at it. House on my block just on the market two weeks ago, not sold yet (it needs a lot of work inside and is a fairly big house) but he sold the extra parcel (3/4 acre) he owned and a new home is already going in. Land to build is very hard to come by in the older (and more desired) parts of my town and much in demand.</p>
<p>What region, Emilybee?</p>
<p>arabrab, I’m in a first ring suburb of Albany, NY. We had a smaller bubble and it started later than most of the country so didn’t rise as much or plunge as much. But sales have been very slow the last two years. Homes that had been on the market for about a year finally started selling last month and the homes coming on the market since then have been moving very fast. </p>
<p>[Area</a> home sales in quarter highest since 2008 - Times Union](<a href=“http://www.timesunion.com/business/article/Area-home-sales-in-quarter-highest-since-2008-3494593.php]Area”>http://www.timesunion.com/business/article/Area-home-sales-in-quarter-highest-since-2008-3494593.php)</p>
<p>Closed yesterday. DONE!</p>
<p>Congrats MOWC – that’s something to take a celebration run for!</p>
<p>MomofWildChild…congrats.</p>
<p>Congrats MOWC…a relief, I’m sure!</p>
<p>:)</p>
<p>MOWC, congrats! I bet you slept well last night!
And Packmom, fingers crossed. If you have a good enough deposit and all contingencies have closed, that is a huge incentive for the buyer not to flake.</p>
<p>Congrats! And thanks for the input on the porch.</p>