The market hasn’t been overly friendly towards buyers in recent months; low inventory and high competition has been driving up prices making it challenging to find and purchase property.But it
5 Next Steps When A Sale Falls Through
5 Next Steps When a Sale Falls Through
Wed, March 2, 2016
Remember Charlie Brown, lying dejected on the ground after Lucy yanked the football away at the very last second? That’s how it can feel when your home sale falls through.
Unfortunately, several things can derail a sale, from lenders rejecting your buyer’s mortgage application to buyer’s remorse. Your agent may suggest several different next steps after a sale collapses. Here are some possibilities.
1. Go to Plan B
In the best-case scenario, you’ll have several backup offers on your property and, without re-listing or re-marketing, your agent can simply move on to the next buyer.
Do you take issue with the report filed by the buyer’s home inspector? Hire your own for a second opinion.
3. Don’t despair – repair
Did the buyer present you with a list of improvements they wanted addressed? Your agent can help you decide which, if any, of those items might be worth fixing before relisting.
4. Is the price right?
Your agent may look at any changes in your local market that took place in the time since you first listed your home. You may consider bumping your listing price up, or down, to more accurately reflect the current market.
5. Update your listing
Freshen the listing content with new photos and descriptions based on some of the feedback from prospective buyers. If your home has been on the market through a change of seasons, new pictures of the exterior are also a good idea.
Sales can fall through for a wide range of reasons. Work with an experienced agent who can lay the groundwork for a successful closing.