It's not uncommon for the first contract on a home to not make it to the closing table. Sometimes the second and even third contracts might fall through too. If it happens enough, a home might have a stigma attached to it. Buyers start to think there's something wrong with the home, but it might truly have NOTHING to do with the home having issues,
The Cincinnati/Dayton area home purchase contract is heavily titled to protecting the buyer's options. A buyer has multiple options to get out of a contract and get their earnest money back.
It really all comes down to timing.
As long as the buyer opts out during the inspection period, there's not much for the seller to say about it.
During that time frame a buyer might find a home they like more (been there, done that).
A buyer might decide the home isn't right for them after all (been there, done that too).
A buyer might get cold feet about the size of the house payment.
A buyer might find out that a block away is a sex offender.
A buyer might talk with a neighbor and decide they don't like the way the HOA is run.
Do you get the idea that there a lot of reasons a buyer could exit a contract without anything being wrong with a home? And by no means was the list above complete!
So before scratching a home off the list because it's been under contract once or twice, let's have a conversation with the listing agent to understand what has happened. That home might very well be the perfect fit for you!
Ready to talk Cincinnati real estate? Call Bill of The Liz Spear Team of RE/MAX Elite at 513-520-5305 or email Liz@LizSpear.com.
Serving Cincinnati area home buyers and sellers,
Liz and Bill aka BLiz
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747
William (Bill) Spear, CRS, Ohio License SAL.2004011109 Kentucky 77938
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
Liz Direct: 513-265-3004
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