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Old 10-16-2017, 11:46 AM   #61
kzrooster
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Originally Posted by MagicAllAroundUs View Post
There are definitely a lot of scenarios that could lead to a delay on their end. However, it takes less than a minute to pick up or return a call and explain that there might be a delay, even if it's too personal an issue for them to want to share with the agent. I made another offer for a similar contract a few hours ago, and I'm okay with either one or both working out.
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I just don't know when it became so acceptable to disregard verbal contracts.

I agree 100%! However, when I read the above quote from the OP, I think he’ll buy both.
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Old 10-16-2017, 11:49 AM   #62
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So you backed out of the verbal agreement you had with the other owner or your buying both contracts?
No, I'm going to keep both contracts. More AKV points = better for me anyway.
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Old 10-16-2017, 11:50 AM   #63
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I agree 100%! However, when I read the above quote from the OP, I think he’ll buy both.
Yes I am planning to buy both. They were both small contracts and I was initially hoping for more points anyway when I started shopping.
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Old 10-16-2017, 11:58 AM   #64
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I just don't know when it became so acceptable to disregard verbal contracts.

A verbal agreement is not a contract the buyer has not communicated with the agent it is acceptable to move on. A written contract you can rescind within three business days. If a buyer hesitates to long on a counter offer another offer can come in and the buyer loses out. It works the same both ways. Basically you snooze you lose. If the seller wanted to sell that badly, barring a medical emergency they could have shot a quick email reply to the agent.
This buyer seems to be on a roll, buying.He/she may very well still buy this contract. But when someone has money tied up. Money is time, if the timeline is not moving, one can choose to move on. It is a business transaction and needs to be treated as such.
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Old 10-16-2017, 11:59 AM   #65
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I just don't know when it became so acceptable to disregard verbal contracts.

I agree with you that if the seller had 10 days to return, I think they should have been given 10 days. On the other hand, a wise seller should know that if they want to sell, they need to lock the buyer in before the buyer gets antsy or something better comes along. Until the seller signs and returns, there is no binding contract and no deposit committing the buyer to moving forward. The broker had called and emailed with no response. This is a warning sign that the seller, while in their rights to ignore, was unwise to ignore if they really wanted to complete this transaction with this buyer. Just look at the initial responses on this thread, the delay and lack of response was not perceived well by several posters on here. Just as the seller was within their rights to wait the 10 days and not respond to email and phone, the buyer is within their right to walk away without penalty since there was no signed contract. IMO, sometimes in a business transaction, both people can be operating within their rights and still not be well suited to work with each other. This would seem to be the case here.

ETA: Just read that they buyer is actually buying both, so it's working out for everyone.
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Old 10-16-2017, 01:18 PM   #66
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But when someone has money tied up. Money is time, if the timeline is not moving, one can choose to move on. It is a business transaction and needs to be treated as such.


I had 10 days to rescind my offer, so it would've been well within my rights to pull out. Agree wholeheartedly that money is time, and I don't want mine wasted. I am extremely understanding when there are delays due to travel or other personal reasons, but I'm not as comfortable waiting when there's lack of explanation or communication. However, I wasn't planning to genuinely consider backing out until I gave the seller 9 days to at the very least pick up the phone or send a 5 word email to the agent and explain their delay.

My main concern was based on pure speculation that the seller may have changed their mind.
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