I'd love to say every contract progresses all the way to a completed sale, but that's not the case. Things CAN happen, from the minor to the major.
Over the years we've more than a few deals that started off full of hope disintegrate along the way.
The sellers that put a couple of post it notes out before the home inspection about a couple of recent issues with the home and then the buyers freaked out and decided things had been hidden from them.
The buyer that couldn't get a loan for our listing because they had to go get a new car during the financing stage. It's a chicken and the egg thing, no car means no money to pay the mortgage, but new purchase messes up the debt ratio and game over.
Of course home inspections can be a prime source for buyers pulling the eject lever. Bowed basement walls? Aluminum wiring? Mmmmm nope.
HOA rules too restrictive? That'll do it too!
The buyer that gets into a lease/purchase agreement but then stills the owner on the rent? Well that didn't take long.
The cash buyer that finds out after the deal is put together that there's a pretty severe withdrawal penalty on her retirement savings? Ouch. Done.
The offers that need a certain kind of financing but the condo association isn't approved for FHA/VA, etc. POOOOF.
The unexpected job transfer for the buyer? That can happen.
And of course there's buyer's remorse too.
And what if a BETTER fit comes on the market? Been there, done that.
Appearances by the Grim Reaper? That too.
Now there's a lot of things a good agent can do to mitigate risks of a deal going down. But when you look at the list above you can see some things are beyond the control of anyone involved. So when they happen, we'll do our best to minimize the hassle and the inconvenience, and get to work on getting another offer that can be turned into a contract.
Need help with buying or selling a home (or land) in greater Cincinnati?
Just give us a call at 513-520-5305 or email Liz@LizSpear.com.
We look forward to hearing from you!
Bill of Bill & Liz 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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