Have a unique situation.
Small park listed with an broker / agent. We sign an LOI and get no response from broker/agent for a few days. Then finally get a call. The agent was able to contact the seller who is out of the country. Said the seller is in touch with their partner and the offer looks decent.
Agent says they should have a decision by the beginning of the week (now 2 days past due, and almost 2 weeks since the LOI).
I would like to purchase the park as it would work well for me starting out in this sector.
I have told the agent that time is up and I am ready to move on. Every indication is the issue is the seller or partner and not the agent dropping the ball.
What can I do other than wait for an unknow amount of time before they act on my offer?
I have heard some buyers start reducing their offer until they get a final answer. Maybe the lowering offer would spur action by the sellers / partner.
Just perplexing. I understand that someone may be unavailable for a few days but we are well past that now.