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Sunday, October 24, 2010

Home Seller Tips: Some Deals Crash and Burn - That is the Nature of Real Estate

I like to tell sellers that even though we have an offer there is always a possibility of a bump in the road that causes the deal to crash.

In most cases there are two major hurdles (contingencies) attached to the buyer's offer to purchase your Brevard County house or condo:
  1. An inspection contingency and 
  2. A financing contingency.
What causes the deal to vanish? 

It could be an inspection.  It could be the buyer's mortgage approval gets reversed due to a layoff notice or going crazy with credit like buying a new car!  It could be the short sale decision takes too long and the buyer walks.  It could be an illness or hospitalization that wipes out the financial security.

There will always be a certain percentage of deals that crash and burn...I use 35% although I have no analytical basis except maybe experience.

As a seller know that until the papers are signed there is a chance of not closing although your real estate agent will work to get the deal done - if it is in your (the client) best interest!

I still like the words of Dale Earnhardt:   You win some, lose some, and wreck some. 

As a real estate seller in Brevard County, Florida, be optimistic yet realistic. 

If you are considering selling your Viera, Rockledge, or Suntree house or condo, call me to discuss how I can work for you.  I can be reached directly at 321-693-3850 or by email. 

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

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