03/24/2025
Save this for later, or share it with someone who needs to hear this.
I'm sharing this with you as I've helped sellers overcome these hurdles and achieve successful sales, which I think can tremendously help sellers who are going through these challenges now.
โ๏ธInspection Revealed Issues: The home inspector found significant problems (like a leaky roof, faulty wiring, or foundation cracks) that scared the buyer away. They likely had an inspection contingency in their contract, allowing them to back out if major issues were discovered.
โ๏ธAppraisal Killed Deal: The bank's appraiser determined the home wasn't worth the agreed-upon price. Since the lender bases the mortgage amount on the appraisal, the buyer couldn't secure the necessary financing, and the deal fell apart.
โ๏ธLoan Application Denied: Despite initial pre-approval, the buyer's full loan application was ultimately rejected by the lender. This could be due to changes in their financial situation, credit score, or other lending requirements not being met.
โ๏ธContingency Not Met: The buyer's offer had certain conditions (contingencies) that they couldn't fulfill. For example, their offer might have been contingent on selling their current house first, and they weren't able to do so within the agreed timeframe.
โ๏ธMarket Timing Off: The initial listing might have occurred during a slower period in the market, leading to less buyer interest and potentially a withdrawn listing to relist at a more opportune time, like the spring buying season.
โ๏ธRepairs Not Done: The buyer requested certain repairs after the inspection, and the seller was unwilling or unable to complete them. This impasse led to the buyer terminating the contract.
These situations can be tricky. Let's connect and discuss your options today!
Bella Kahlon
Associate Broker, CBR, SFR, SRS
C: 718-344-2153
E: [email protected]
