Warren County Ohio Real Estate News and Observations: Second Chances Are Rare

Second Chances Are Rare

stop and go!While our local real estate market may be in the winter slowdown, there are still new homes coming on the market and there IS interest when they do.  With an overall shortage of offerings, the homes remaining for sale weeks later usually have an issue hindering their sale (floor plan, condition, price, etc.).

So when a new condo or home comes on the market, chances are there are some buyers waiting to see a new opportunity to satisfy their home needs.  And if the new offering is a well presented, there's a good chance it will go under contract quickly.

It's a snooze, you lose kind of market for the best of the best homes.

So if you thought about it just a bit too long, or didn't present a strong enough offer to get the home, is there still a second chance?

Honestly, that's a rare occurrence.  MOST deals stick from contract to closing table.  However, there are a few things that can derail that contract:

  • Inspection issues significant enough that the buyer exits the deal
  • Buyer financing falls through or appraisal doesn't meet contract price
  • Buyer gets cold feet (or something better comes along)

 

If one of these things happens the home MAY come back to Active status (if there isn't an already accepted back up offer).

If the home returns to the market, it's critical to act quickly.  There may be other buyers who missed their chance the first time and are hoping for the same as you, a second chance.

 

Ready to talk Cincinnati real estate?  The answers are easy to get, just call Bill at 513-520-5305 for a chat.  Like what you hear, we can meet in person and get even more detailed about determining the best path to take care of your future home needs!

 

We look forward to hearing from you!

Serving Greater Cincinnati home buyers and sellers,

Bill of 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!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Comment balloon 4 commentsLiz and Bill Spear • December 29 2018 11:44PM

Comments

Buyers who do not heed the ...move or lose it directive,...do lose it...and hopefully learn from experience.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) 3 months ago

Dear BLiz,

In our area, second chances run around 10%, sometimes a little higher. But as you said, put your running shoes immediately, so you get lucky this time around.

Posted by Dörte Engel, ABC - Annapolis, Bowie, Crofton & rest of Maryland (RE/MAX Leading Edge) 3 months ago

Bill in a fast market indeed chances are slim for second chances... what I used to do is have my clients do a backup offer and amazingly enough there were a couple we won by being patient...Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 3 months ago

Hello Bill(and Liz too) - second chances are important.  Preparation is crucial to move when an opportunity presents itself. Be ready.

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 3 months ago

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