Even in todays market real estate transactions fail. Some are beyond the control of either the buyer or seller, while others are not. Often, tough negotiations between the buyers’ and sellers’ Realtors can rescue a doomed transaction. Still, there are times when Fate just seems to step in.

1.       Repairs were either not completed or inexpertly done. Only licensed contractors should complete home repairs, and a buyer’s Realtor will make sure the home inspector performs a re-inspection before closing. But shabby repairs can be a deal-killer.

2.       The buyer’s financing fell through. If the closing date extends past the end of the month, buyers will be required to re-submit certain loan documents to keep the loan commitment. If their financial picture has changed, the loan can be denied, axing the deal. A good Realtor tries to set closing before the end of the month. Sometimes, a loan falls through for no apparent reason, and some quick work by a professional can get the buyer into another lender’s hands and save the transaction.

3.       The seller failed to disclose everything. Sellers’ disclosure statements and obligations) run from straightforward to uncertain. For example, whether or not a seller has the authority to sell is easy to determine. But if the home’s builder used a product that was subject to recall or class action, the seller simply may not be sure. Here’s the rule: If you don’t know, say so, and when in doubt, disclose.

4.       Buyers’ or sellers’ remorse. In the emotional process of the home search and the transaction negotiation, a buyer will sometimes look around the new home with the mortgage attached and think, “Oh, no, what have I done?” More often than not, the Realtor can provide assurances by discussing the benefits of home ownership. Sellers can likewise change their minds. Sometimes, they don’t get that new out-of-state job they, or the transaction on the new home they wanted to buy falls apart.  Not much can be done in those instances.

3.       The seller failed to disclose everything. Sellers’ disclosure statements and obligations) run from straightforward to uncertain. For example, whether or not a seller has the authority to sell is easy to determine. But if the home’s builder used a product that was subject to recall or class action, the seller simply may not be sure. Here’s the rule: If you don’t know, say so, and when in doubt, disclose. 

Do Your Homework to Avoid Pricing Mistakes 

Check on local pricing in your area before you begin. Here in Metro Phoenix there are markets within markets. For example, There are homes in the city of Scottsdale, there are Luxury homes in Scottsdale, and withing the luxury scene there are Gated Golf Course homes in Scottsdale, Hillside homes in Scoittsdale, and New Custom homes in Scottsdale, and of course there are the are Scottsdale Pool homes. Some mom's and dad's may even be interested in knowing about home prices in the Chaparral High School area. 

Call me or text me at 602-558-3843 for more information about buying or selling homes.