“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 26 years and 4,000+ home sales, here are the reasons home sales fall through, in approximate order:
* 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.
