Should you be concerned if the house you have under contract is having an Open House?
The buyers and sellers Rick Ratchford and I represent provide us with a constant supply of real estate topics to write about. Recently one of Rick’s clients who is a first-time home buyer asked “Should I be concerned that the house we have under contract is having an Open House on Sunday?”. It’s a good question and from a buyer’s perspective I can understand why you may be concerned.
You have searched and searched for Spring Texas houses for sale and you have finally found it. You have fallen in love with the house. There are no others. You have a fully executed real estate contract with the sellers so why do the sellers need to have an Open House? They have already found a buyer for the house and that buyer is you.
The Open House was probably scheduled and promoted in advance. The sellers could cancel the Open House since you are now going to buy their house. But instead they agree to still hold the Open House in case you back out of the contract or your financing falls through. Both are real concerns for the sellers as just because they have a contract on their house is not a guarantee that the contract will close.
You should NOT be concerned if the Spring Texas house you have under contract is having an Open House. You are in contract on the house. The sellers can’t sell the house to another buyer unless the contract they have with you is terminated.