Question:
“Gary, my wife and I really enjoy your newsletter and we have a question- Why typically do home sales fall through? We’re curious for when we sell our home this summer.”
Answer:
Based on my 26 years and hundreds of home sales, here are the reasons home
sales fall through, in approximate order:
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- Buyer gets cold feet or finds another home (usually first few days)
- Buyer’s inspections/investigations reveal defects/issues that the seller won’t/can’t correct or cause the buyer to no longer want the home
- Buyer doesn’t qualify (this “should” never happen!)
- Low appraisal
- Lender takes too long and seller cancels
- Agent makes error, advises client poorly, didn’t explain contract to client, etc.
