sellers procrastinates contract signing

ethics for a real estate salesperson. R u kidding me? There are no ethics. It's how ever they can close the deal in the quickest time for the most commission. Salespersons main job is to manipulate seller into listing for the lowest price possible for a quick sale all the while getting their own buyer the ability to sign first

Your deadline should be the next business day at noon, if it isn't already, and tell them at noon you go to tell the bank to cancel their check.

You have no recourse. Tell the seller to return the signed contract tomorrow or the deal is off.

You can set a firm deadline like those here are saying. But then you're back on the market oolong for a deal. If you had been struggling to get an accepted offer you may just want to wait, push their hand, but also hope that nobody offers higher than your offer and you "are allowed to" buy their place. Complete BS and upsetting but I would not throw away this deal if you want the place.

I had a very similar experience with my purchase. The seller accepted the offer, "went to Europe" while I moved ahead with the inspection and lawyer's due diligence, and a week later let on that there was at least one more offer still being entertained. However, once my agent threw a hissy at having my offer shopped around, I got to give a best and final that was still acceptable to me, and the deal went through. You are kind of at the sellers' mercy in this market. If you really want the apartment and are willing and able, sweeten your offer. If not, it's a learning experience.

there should be a "rate a broker" site.
this is t

did you represent yourself during the transaction? was there a buyer's agent?

Until both parties signed the contract nothing is really binding. This is a very unethical seller , so you need to give him a firm deadline or the deal is off.

to snezanc: We have a buyer's agent. doe sit make a difference?

lets see what's going to happen. The deadline is COB tomorrow.

to mairad: i'm surprised your buyer's agent can't pry some information out of the seller's agent. It's not that hard to pressure people to give up the truth when you're in the same business. That being said, there are strategies to lock sellers down by creating pressure points. Your buyer's agent should find out what the seller really wants and make sure your offer is the one to provide it.

New York does not accept anything other than a written contract as binding that has been executed and delivered. Hopefully your purchase will go through! Good luck.

Thank you all for your comments.
We now heard back from the sellers attorney that the contract he had drafted contained a mistake, missing a buyer's rider. They are redrafting it and we have to sign again. - Stay tuned

You signed a contract that did not have your own rider on it?

The seller sent a contract, we (buyer) put a rider which was mutually agreed, signed (by us) and returned to seller for excecusion. Then the seller's attorney remembered that he did not put a seller's rider on it. Now seller's attorney will sent us a rider to sign and add.

The seller sent a contract, we (buyer) put a rider which was mutually agreed, signed (by us) and returned to seller for excecusion. Then the seller's attorney remembered that he did not put a seller's rider on it. Now seller's attorney will sent us a rider to sign and add.

Mairad - same thing happened to me. Just assume they are shopping you around until they countersign. It's not a deal until it's in writing.

But PS - I did get the place it just took a few days longer of stress and uncertainty until the contract was signed!