Hi All,

I've now had two proprietary transactions that I thought were extremely close on terms where once I submitted the LOI, the sellers came back and said they'd need several weeks to respond. In both cases, coincidentally, because of personal travel. The first case was right ahead of the holidays so I understood this, but it turned out the seller used this time to leverage the offer I'd made to solicit other offers and they decided to move forward with another party (according to our conversations, at the time of the initial offer, the sellers were not in discussions with any other parties). In the second case, I've stressed to the seller that while I'm happy to revisit discussions when they are back, the offer may not be on the table in a month. From my vantage point, it seems like it could be a similar situation. Both LOIs had expiration dates one week from the date the offer was submitted.

For any of you who have had a similar discussion with a seller, how have you approached this with the seller?

Thanks in advance for your feedback.