A woman was renting an apartment in DC. She was interested in purchasing a one-bedroom condo, with parking, in that same building, and one came on the market. She put in an offer for several thousand dollars more than the asking price, and the owner, who was out of the country, accepted it immediately.
On the 30th day after ratification, the listing agent informed the woman that the tenants — a pair of attorneys — had made a low-ball offer on the condo. The woman tried to wait it out, as she knew the tenants were actually interested in a house, not a condo. The tenants took the full 60-day negotiating period but never came to a meeting with the owner, then they took the full 15-day period to match the offer, which they did not. They were then given 90 days to bow out of the transaction for good, and after holding out for 88 of those days, they finally bowed out.
Nearly 200 days after ratifying a contract, the woman was finally able to settle on her new home.
Leave a Reply