Conditional Offers that fall through
Sold my condo here in Toronto recently (conditionally). It worked out great, we put the property on the market 2 weeks ago, that same list day we had multiple viewings, and an offer that we ended up accepting. There was a financing condition on it (valid for 5 days).
On the 5th day, they made an amendment to the offer asking for 2 more days. 2 days later, heard nothing. Other realtor told my realtor that the buyers' mortgage request was rejected, and that they are still trying to get it sorted out. That was this past Friday.
My realtor took the "conditionally sold" off the property and put it back on the market. Since doing so, we have not received any requests for viewing, etc. Which sucks as we would like to sell this thing asap (before our new house possesssion date end of may)....
What's curious is that the buyer hasn't even picked up their deposit cheque from my realtor brokerage yet. From past experience, could this be a faint glimmer of hope that the buyer is confident they can get their financing sorted? I know they were very eager to get the property.
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