Trouble With Real Estate Sales
By Elli Davis, July 22, 2010
Broken bowl by Timlewisnm
Almost no real estate sale is absolutely trouble-free. It usually takes a lot of patience, energy and nerves. On many occasions it may seem like the sale is going very smoothly and nothing bad can possibly happen, but suddenly something unexpected occurs and ruins all those positive feelings. So what can go wrong with real estate sales? I will try to give some examples of what could go wrong, in this article.
When everything seems to be sure and ready, the seller could easily change their mind and thus their decision to sell the home. This is something that just stops everything in its tracks for the buyer. Imagine you have arranged everything, are completely prepared to move and then your plan is destroyed by a sudden change of mind by the seller. Of course, the seller is obliged to return to the buyer the entire holding fee and any money already paid, but it does not solve the frustrating situation the buyer is in.
Surely, the same could happen the other way round and it could be the buyer who decides not to buy the home after all and the seller has to start the process of looking for a buyer all over again. There are various reasons why the seller or the buyer may change their, seemingly final, decision. For instance, the buyer may not obtain the financing for the property, even though it was expected. Naturally, with no money, it is not possible to purchase the home. It is quite easy to back out before the closing date – after that, this change of mind should not occur.
Another area which could complicate matters, is the final walkthrough, the buyer may find there is something really, really wrong with the home or that it does not fulfil all the conditions that were agreed upon. In such a case, it is understandable that they would not want to buy the home anymore. The seller has two options – either to fix the problematic issue or just look for a new buyer. Do not forget that the second possibility is stressful for both the person selling and the person buying.
These are just some of the issues which can complicate a real estate sale. I am quite sure you have some interesting stories, too. As always, I would be happy if you shared them with us. What would be especially interesting would be to hear whether if and how your attitude towards real estate sales has changed after a bad experience. After these types of problems, it is certainly extremely difficult to really trust anyone regarding a property sale ever again.