It’s easy to get excited . . . A new future in a new place so much promise. Home buying is an intensely emotional experience and unfortunately there are times in the process, where both buyers and sellers face the lows that can accompany those extreme high hopes. It can be brought on by a variety of circumstances.
Some make the decision to stay away from the housing market for a while after a deal has fallen apart, while others want to jump back into buying a home right away. Their reaction usually depends on the buyers’ or sellers’ original motivations.
Reasons for a sale purchase falling through run the gamut one party can change their mind. Sometimes financing is not able to be obtained, other times a home that appears to perfectly fine, fails an inspection report or the inspector found a problem more costly than the buyer or seller would care to take on. Or your contract with the home buyer could be contingent upon the sale of their home, and that didn’t happen... yet. Or an appraisal can come in to low, bring both parties back to the negotiating table.
Buyers who were tripped up by an inspection report, tend to suffer less serious disappointment than those who were stumbled by financing Buyers with financing issues might have to settle for less-costly homes or delay their plans and sometimes that is a difficult realization.
All of these scenarios demonstrate why it’s important to maintain close contact with your agent throughout the process; your agent is your best guide and advocate. Be sure to keep your lines communication open. Your agent has weathered many sales and has probably saved more than a few from disintegration. You are in a process that is a big transition, it is an exciting process and it can be little nerve racking but with a trusted and knowledgeable professional in your corner you are guaranteed support and a friendly face in the process.
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