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Reasons Deal Fall Apart
Lack of Disclosure
When listing a home and the seller does not reveal an issue about their property that gets discovered during the home inspection. Problems always seem much bigger to a buyer when they are discovered instead of disclosed. They have a higher probability of walking away from the property all together or asking for unrealistic price corrections. Therefore, disclosure is absolutely necessary.
Inspection Issues
The home inspection is more than a formality. In many cases, the inspector comes back with a long list of items that the buyer wasn’t aware of (and in many cases, the seller didn’t know about them either). If the seller is unwilling to fix the issues that the buyer requests, then there’s a possibility that the deal could fall through. Having me on your team will absolutely reduce your selling risk from inspection issues.
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Foundation Problems
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Water Intrusion Problems
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Roof Problems
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Electrical Problems
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Plumbing Problems
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Presence of Mold
False Advertising
False advertising is more common than most people realize. And in many cases, it’s pretty hard to differentiate the false advertising from the real thing. An example of this is when real estate agent took a picture at a deceptive angle (and most likely photoshopped the original photograph) to remove the massive water tower that is directly behind the house. And while this degree of false advertising rarely happens, it is quite common for smaller issues to occur and create complications.
Financing Problems
While real estate agents and sellers almost always require a pre-approval, it is still possible for there to be issues with financing between pre-approval and closing. Whether it is a mistake on the lender’s part or sudden change in the borrower’s financial situation, financing is often a major hurdle.
Cold Feet
Buyers have been known to occasionally walk away from purchase agreements. They do so for several reasons, and it is not possible to predict when it will happen or who is a likely offender. Some suddenly feel too much pressure or responsibility, while others find a different property they like more before closing.
A seller can reduce the likelihood of a buyer getting cold feet by increasing the amount of deposit that is required with the offer. Money has a way of keeping the buyer’s feet from getting cold.
