My boyfriend and I started our house hunt in July. The first house we looked at was perfect, but because it was our first, we delayed making an offer. We viewed the house mid-July, took our parents back the next weekend, and by the time we made up our mind that we wanted it, the house was pending. But, it has been "sale pending" since the last day of July. We contacted the realtor that showed us the house; she told us that the buyers were having distress getting financing. Is there a time limit to closing? Can the seller see or accept another offer? Can the seller place the house back on the market because the buyer isn’t following through with funds?
*A few specifics about the house: HUD home, located in PA.
The house still has the "for sale" sign on it, and never place a sign up that says under contract, sale pending or sold.
I know how much the person offered, but can I make my own offer if the house is "sale pending"?,
How much more will I need to offer to show interest in the house(it is 8k more than asking price)?
If we show interest in the house, will it motivate the seller to go to another buyer?
Can the seller void a contract to go on to another buyer?
Is there a specific amount of time the house must stay under contract with the original buyer?
Can the seller place the house back on the market because the closing is taking too long?
Because the house is a HUD home, will the buyer be given more time than usual to come up with the funds?
Sorry about so many questions, but the house is very vital to me and I don’t want to lose it if I can help it!
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