The Top Reasons Most Home Purchases Fall Through

Dated: August 11 2022

Views: 128

Yes, some home sales don’t make it to closing. There are a number of situationsthat may derail a deal, and it’s a nightmare-come-true when it happens.

The good news is that the percentage of failed home purchases is only around9%. This means there is a 91% chance that you’ll sit at that closing table.

As a seller, you have several opportunities to headoff any problems that may cause a delay in or acancellation of escrow.

If you suspect major problems in the home, consider a pre-sale home inspection.This will give us an idea of what the buyers’ inspector will find and what will needto be fixed.

Appraisal issues are one of the most common reasons a home sale can fall apart.If you know of why an area home sold for less than it should have, we cancommunicate that to the appraiser.

Other possible issues lie in the contract’s contingencies. For instance, a buyermay make the purchase contingent on selling his or her current home. If thatdoesn’t happen by a certain date, the deal falls apart.

We will be there to help you review purchase agreements to ensure there are nopossible pitfalls contained in the contingencies. Rest assured, we’ll help youchoose the best offer.

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