Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive)

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Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

This would be a killer for most potential buyers.

Jul 26, 2016 04:49 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have seen this and it is like flying a caution flag. To me it means that if the buyer falls in love there dreams may never come true.

Jul 26, 2016 11:30 AM
Rainmaker
1,723,026
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

If the home is an exceptional find, then no harm, no foul. If a cookie cutter; forget about it!

Jul 26, 2016 06:23 AM
Rainmaker
1,247,886
Margaret Goss
@Properties - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

This happens often here and it's worded with a time limit, such as:

"seller requires 72 hours to purchase home of choice."

Yes, some buyers would not like that but if they like the house, they will wait it out.

Jul 26, 2016 04:56 AM
Rainmaker
5,583,173
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

if it's a seller's market, buyers who want the home will deal with it..... if it's a level market, you're pushing your luck....a buyer's market, no...you lost that potential sale....

Jul 26, 2016 11:06 PM
Rainmaker
1,498,708
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

It is a speed bump, but one that doesn't hurt a sale for hot properties.

Jul 27, 2016 04:11 AM
Rainmaker
987,352
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I wouldn't market it like that myself - but I would have the owner start looking

Jul 26, 2016 11:17 PM
Rainmaker
4,854,437
Richard Weeks
Dallas, TX
REALTOR®, Broker

That is a big turn off.  Who needs that drama.

Jul 26, 2016 11:13 PM
Rainmaker
3,340,393
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

We will tell the Buyer of the condiion....and have never had one want to even see a home like that...everyone has their own timeline and can't be held to

someone else's unknown schedule.

Jul 26, 2016 10:44 PM
Rainmaker
781,574
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

I never see those words or anything similar on my Long Island MLS.

Jul 26, 2016 10:42 PM
Rainer
446,414
Raul Rodriguez
Covenant Partners Realty - San Antonio, TX
Looking out for the client's interest and not my p

ANY remarks that MAY hinder the close of a sale are red flags, generally leave those to the end of a search.

Jul 26, 2016 09:54 PM
Rainmaker
7,794,774
Roy Kelley
Retired - Gaithersburg, MD

It hurts.

Jul 26, 2016 09:11 PM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It may hurt as many buyers don't have that kind of flexabiblity

Jul 26, 2016 12:43 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I haven't had any experience with this, and that phrase is rarely seen in my market. 

Jul 26, 2016 10:55 AM
Ambassador
3,727,581
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Carla, I have an ironclad addendum I use that allows the buyer out if they get sick of waiting, but not the seller.  I love these listings because they are less likely to attract multiple buyers!  

What I care about is the buyer!

Jul 26, 2016 09:59 AM
Rainer
426,033
Chris Lima
Turtle Reef Realty - Port St Lucie, FL
Local or Global-Allow me to open doors for you.

Certainly, this would depend on the buyers' circumstances and how much they truly must have this particular property and what their time-frame is.  I would guess that most buyers would run in the opposite direction as they are on the side that is clearly at a disadvantage.

Jul 26, 2016 09:22 AM
Rainmaker
613,494
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

In all my years, I only saw that one time and my buyer wanted the house.

That clause was put in the contract, but if I remember, there was a 3 month time limit.

Ironically the Listing agent and seller did not get along so the listing agent asked me if I could find the seller a house to buy, so I did.

Strange for sure.

Eve

Jul 26, 2016 08:16 AM
Ambassador
5,033,427
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It's clearly an issue for some buyers, but not all. I have had 2 listings where this was the case and agreement was reached in terms of handling a move out time, lease-back etc. I wouldn't say it's common

Jul 26, 2016 05:53 AM
Ambassador
1,447,119
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Quite popular here.  No different than the Buyer having a condition for selling their home first.  There does need to be a time factored in. We see both Buyers and Sellers needing to be protected and it does not affect the sale in my part of the world.

Jul 26, 2016 05:14 AM
Rainmaker
2,809,749
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Carla - I don't think I've ever met a buyer who was comfortable with that kind of contingency, nor do I think we've ever written an offer on one that had that.

Jul 26, 2016 04:50 AM
Rainmaker
750,057
Rob D. Shepherd
RETIRED - Florence, OR
RETIRED

I pass on showing those homes. I see it as an indication that the Seller does NOT have it together and I am NOT going to allow my client to be strung out. Great Question!

Jul 28, 2016 12:56 AM
Ambassador
2,679,649
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     That would be a show-stopper in my market.  Way too many other choices for Buyers, without having to wait on the Seller to shop around for a new home.

Jul 27, 2016 09:35 AM
Rainmaker
710,582
Sharon Kowitz
CRS-SRES-ABR-GRI-E-Pro-CREN ~ COMPASS RE - Cary, NC
Cary, NC Relocation Specialist ~ Buying or Selling

I would think it would hurt a seller in our area

Jul 27, 2016 08:40 AM
Rainmaker
5,096,466
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I've only seen this a few times, but have stayed away from those properties... what good does it do to have your buyer fall in love with a home that they can't buy because seller suddenly pulls his listing. And once you are in contract, expenses for a buyer start piling up... either you are a motivated seller or you're not.

Jul 27, 2016 05:29 AM
Rainmaker
183,505
James (Jim) Lawson, DBA
DomainRealty.com LLC - Bonita Springs, FL
Broker Associate, RSPS, BPOR, HI & PE

Depends on the demand for that particular house. In any case, it probably will shrink the number of buyers possibly interested in that house since some buyers simply don't want to deal with a maybe for sale house.

Jul 27, 2016 04:14 AM
Rainmaker
898,058
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

In my opinion, it does not help. Always gave me pause. 

Jul 27, 2016 03:32 AM
Rainmaker
1,013,979
Mike Bjork
Evolve Bank & Trust - Redondo Beach, CA

Maybe the buyer can state in their contract that the contingency period doesn't begin until they enter contract with their new property, and add a contingency for buyer until their find better property? ;)  Not that would work, but maybe worth a shot!  LOL  I think it depends if the Market is really that tight and the Buyers are aware of the consequences and willing to agree, then it would be fine.  But overall, I think a listing like this would lose a lot of interest from Buyers.

 

Jul 27, 2016 03:31 AM
Rainmaker
4,555,011
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I agree with you, Carla.  Of course, it depends on the buyer. It depends on the market.  I share the information with the buyer.  I will ask the listing agent.  

Jul 27, 2016 01:45 AM
Ambassador
3,339,834
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

If there is a time frame on it ... then it likely would not hurt. Rent backs are common in my market.  Of course, market conditions play a huge role. 

Jul 27, 2016 01:21 AM
Rainer
238,332
Tyler Smith
Realty ONE Group Unlimited - Elizabethtown, PA
Homes for Sale - Elizabethtown, PA

I think in many cases the listing would get about half the amount of showings it normally would without the clause.  I've had 2 sellers in 14 years who felt the need to use that clause.   I try to discourage it.  I've had many buyers rule out seeing homes that had the clause listed.  

Do you want to sell or do you want to stay?

Short term houses is key and once your sellers home is sold they are in a much better position to buy.  Short term pain for long term gain!

Jul 27, 2016 01:20 AM
Ambassador
2,167,208
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

This would be more common in a "hot" market, where inventory is limited. It was often used here in the past.    Never a deal killer because the seller would get busy and look and find something they wanted.  

Jul 27, 2016 01:13 AM
Rainmaker
2,194,662
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

For starters, I don't use it. It sounds too demanding and buyers get confused. I say "sale to close concurrently with seller's new home." Especially if they haven't found it yet.

If agents don't know me by my reputation, I explain it to them if they ask about it. My sellers go into contract on a new home typically within days of selling. No grass grows under my feet.

Jul 27, 2016 12:28 AM
Rainer
56,684
LeAnn Sink - Realtor Knoxville, TN
United Real Estate Solutions - Knoxville, TN
#ThinkSink when you need an agent.

I usually don't see that in my market, but if the new buyers can accomodate the request I can see that flying around here.  I can acutally use this with a listing I currently have in which my sellers would need to find "suitable housing"!  I might try this to protect my sellers, but it would all come down to what the buyers can accomodate in the end.  They could poo-poo it out.  It would need to be included in the contract with a limited time frame. 

Jul 26, 2016 10:55 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

I've never run across that...

Jul 26, 2016 10:45 PM
Rainmaker
2,350,966
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Usually - 99%= they find a property - they just need a little more time to know where they are going - I don't think it helps but usually I think it doesn't hurt

Jul 26, 2016 09:34 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It hurts.

Jul 26, 2016 09:15 PM
Ambassador
6,357,805
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I would not waste my time touring and making an offer on a property with a less than motivated seller. 

But the, my situation and motivation is likely different than your clients.

Perhaps an exceptional property will induce your clients to make an exceptional offer that will motivate the sellers to ease up on this position.

Jul 26, 2016 07:13 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Hurt, unless a short deadline is included.

Jul 26, 2016 06:20 PM
Rainmaker
1,619,316
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

If a client wants to see that property ( thanks to all public online searches), I'll disclosure that contingency and they decide what they want to do. I had similar situation twice when sellers asked for 60 days of rent back after closing of Escrow but did not need that time since they found next property sooner. 

Jul 26, 2016 04:55 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

It is a common scenario here but not as common in our current hot market.

Jul 26, 2016 03:41 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Carla Muss-Jacobs, Principal Broker (503) 810-7192 - even with such wordings, I insist on specific closing date that is suitable for my buyers.

We prefer to give them sufficient time to buy the home, deoending on buyer's timeline.

If sellers don't agree, we move on.

Jul 26, 2016 03:07 PM
Rainmaker
2,443,200
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

In our market it is very understandable.  Homes are hard to find.

Jul 26, 2016 12:38 PM
Rainmaker
290,919
Allie Angeloni
Long Realty - Oro Valley, AZ

I would think this comment would hurt a listing - I would not think of that Seller as being serious.  I have never heard nor read this comment, though I'm sure it exits.  They are looking for a 'suitable property', and they could be ultra-picky, so that could take months or longer - it remembers me of a 'maybe I will sell'.  No sense of urgency or motivation to me, Carla Muss-Jacobs, Principal Broker (503) 810-7192.  So, has the Seller already started looking, as it doesn't give me the impression that anything they have seen, thus far, is suitable. 

Jul 26, 2016 12:01 PM
Rainmaker
2,171,011
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

It depends on the property

Jul 26, 2016 11:06 AM
Rainmaker
396,289
Jill Watts
Realty Pro, Inc. - Vancouver, WA
A Luxury Experience at Every Price Point!

Hi Carla!!! Hope things are going well over there in Portland!! I've not seen that "sale subject to seller finding suitable proeprty" but just a few times. 

Although, I am seeing quite a few (Seller will need ____ amount of days to move" usually 45 days....and therefore more "rent-back" 65B documents lately. They've worked. It rough on the buyers though because they are excited to move in.

 

Great question Carla!! Take care o' you!

Blessings, Jill

Jul 26, 2016 09:27 AM
Rainmaker
4,976,070
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I don't see that we simply use a seller lease back for 30-45 days..can't be more than 60 days.

Jul 26, 2016 08:51 AM
Rainmaker
1,840,356
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Hurts, it's a 1/2 a sale. Maybe I wanna move sale.

The seller doesn't move, buyer upset. According to our contract, they still would have to proceed with loan app & home inspection. It's a rip for the buyer.

Jul 26, 2016 06:12 AM
Rainmaker
908,918
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I think it hurts.  In our MLS, it's called "Seller to Find Home of Choice". Some sellers want to get their house under contract before searching for another to buy. Other sellers start searching while their house is on market. If they find one they like, the agent usually states in Remarks that " Seller has found HOC" so there isn't much delay in that scenario. If seller can't find anything, they stay where they are.

Jul 26, 2016 04:54 AM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

They have them here and generally do not come to a close.

Jul 26, 2016 04:52 AM
Rainer
216,904
Sharon Altier
Coldwell Banker Realty - Elmhurst, IL
Luxury Property Specialist, CSC, SFR

Haven't seen this, but a Buyer's attorney can certainly deal with this and protect the client.  I would think this is too vague and can hurt the Seller.  I wouldn't put it in a listing. 

Jul 26, 2016 04:46 AM
Rainer
48,568
Mike Schmidt
Realty One Group - Brownsburg, IN
Buy, sell and invest Indy real estate

I'd say anytime a contingency is added, it weakens the position of the party including it. Of course, some cannot be avoided, but the kind you are referring to could certainly damper a lot of buyers' enthusiasm for the property.

Aug 09, 2016 03:42 AM
Rainmaker
5,194,033
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Off my list of suitable properties!

Jul 31, 2016 11:16 PM
Rainmaker
513,937
Brenda J. Andrew
ULTIMA REAL ESTATE - Willis, TX
Professional Realtor in Conroe/Willis, TX

Thankfully I have never had this happen.  I would contact the listing agent and see if the seller is under contract on antoher property, and just forgot to change the listing.  I would ask the agent what it means to them-maybe it is different that what we are all thinking, although it is doubtful.  If the buyer must see the property, then go ahead and show.  It would probably be best though to find out if the seller will want that wording in the contract prior to doing anything-then the buyer can make an informed decision on whether they want to spend their valuable time looking at something a seller doesn't want to sell.  Good luck!

Jul 28, 2016 09:48 PM
Rainmaker
1,617,866
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I would love that option for myself.

Jul 26, 2016 10:48 PM
Rainmaker
1,153,744
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Assuming the Buyer is interested enough to place an offer. This all depends on their urgency although I would counter the objection in the P & S with a clause stating that the Seller has X number of days to find such "suitable property" or the contract shall be declared null and void on a specific date.

Jul 26, 2016 06:33 AM
Rainmaker
2,776,061
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If one wants the property badly, if it is a good deal or must have, than why not go with this? It assures the buyer the place is there's at some point. Not the best way to go about a transaction but has potentials. Tweaking a must!

Jul 26, 2016 06:23 AM