4 Things That Can Go Wrong With Your Home Sale
You’ve gone through the headache of keeping your house spotless for sporadic open houses. You’ve spent money updating your house to make it as valuable as possible. Now, you’ve gotten the offer that you’ve been waiting for. That means it’s all downhill from here, right? Not always. There are still a few things that can still go wrong with your home sale.
Broken Promises. Unfortunately, it does happen. The person who wants to buy your house gets buyer’s remorse. They decide the house isn’t the right fit after all. Or maybe they have lost their ability to pay for your house. It’s also possible that they found a major flaw in your home that you didn’t even know existed. Another problem can arise if the buyer didn’t disclose the truth to their lender. Even if they have signed a letter of intent, they may still back out. The due diligence period can be a rough one for the buyer AND seller.
Disaster Strikes. It is always a nightmare when a natural or man-made disaster takes out your home. It’s even worse if you were in the process of selling your home. Unfortunately, we can’t see these things coming and this will definitely put a damper on your home sale. You can be extremely cautious if you want to prevent something like a fire but there’s not much you can do if a blizzard strikes.
Appraiser Can’t Get It Together. The role of an appraiser in a home sale is a very important one. If they aren’t able to fulfill their responsibilities, it could affect the closing of your deal. Maybe they can’t find a similar property to compare yours to or maybe they are just flat out refusing to return your phone calls. Whatever the reason, this can cause a major headache when you are near the end of your sale.
Lock It In. Another hiccup can occur if a buyer does not lock in an interest rate that makes sense with their lender. If they delay, it is possible that the interest rate will rise and then they no longer qualify for a home. Buying a house is a major investment and too long of a delay could ruin a sale.
While it would be difficult to prevent many of these deal-breakers from happening, the best thing you can do as a seller is to remain as flexible as possible. Life happens but if you have good contingency plans, problems in a sale won’t mean the end of the world.
We have been America’s premier home buyer since 1996 and keep our promises. We also close quickly. If you’re having any issues with your home selling process, give us a call. We can inspect your home and make a no-obligation cash offer that will not change at closing,