Conrad & Scherer In The News: Senior Partner, Irwin R. Gilbert Saves 3 Connected Real Estate Deals Totaling Nearly $7M Dollars!
Coronavirus Florida: Real Estate Deals In Peril Amid Buyer Fears
Real estate agents say deals that were in the works are now encountering all types of problems with the onset of the coronavirus pandemic. This is creating havoc in the real estate market as buyers are trying to back out of their contracts, secure better deals, and otherwise subvert the original terms.
Senior Partner Irwin Gilbert said these squeeze tactics by buyers are becoming more widespread, commenting, “I’m hearing from colleagues this is starting to happen frequently.”
But can buyers actually cancel their contracts due to COVID-19? The answer to this question is unclear to some real estate agents, but Mr. Gilbert views the issue as cut and dried. While some buyers may not be able to complete final walk-throughs in person due to coronavirus concerns, he says, they are still perfectly able to send representatives in their place—and the transactions should stand.
Deals that fall through present a number of risks to Florida’s housing market, including creating a domino effect. Mr. Gilbert’s expertise salvaged three connected real estate deals totaling nearly $7 million. Had the first sale not gone through, we would have seen that domino effect in action.
Click here to read the full story on The Palm Beach Post!