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Friday, November 26, 2010

Some Real Estate Deals Never Close - The Reality of Selling and Buying Real Estate

Just like every patient can't be saved, so goes the real estate deal!

I learned a long time ago that there will be issues, whether working with the buyer or the seller, in which there can be no resolution except to move on.
  • Perhaps it was that darn home inspection that revealed some hidden issues. [A pre-listing inspection would have alerted the seller.]
  • Perhaps it is just that deferred maintenance that has left a honey do list that will take months! [Maybe price concession and have the buyer deal with them later?]
  • Perhaps it was that appraisal. I have received grief for saying this but appraisals are black-and-white.
  • Perhaps it that buyer’s employer who now says the economy is forcing layoffs or reduced hours.
  • Perhaps it is that buyer who now wants everything to be thrown in (the furniture, dear deceased Aunt Mildred's lamp, the riding lawn mower, etc). Oh, I left it out - for free!
Even if a seller spends money up front to get the house ready for the market, sometimes that first deal does not get to the closing. But all is not lost for a second buyer will come along if the property is competitively priced.

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