“Gary. My wife and I really enjoy your newsletter. Question- Why typically do home sales fall through? We’re curious for when we sell our home next year.”
***ANSWER:
Based on my 21 years and 3,000+ home sales, here are the reasons home sales fall through, in approximate order:
1. Buyer’s inspections and investigations reveal defects or issues that either the seller won’t correct or cause the buyer to no longer want the property.
2. Buyer changes mind (cold feet, found something better), typically in first few days.
3. Buyer does not qualify for their loan.
4. Though buyer would qualify, lender does not perform.
5. Buyer’s contingent sale doesn’t happen.
6. Seller’s contingent purchase doesn’t happen.
7. Appraisal comes in too low.
