$\"Don't$ \n

There\u2019s nothing quite like the excitement of getting an offer on your house. You\u2019re one step closer to moving on to what\u2019s next. But what happens if that buyer backs out or ghosts you before closing?<\/p>\n

If you\u2019ve been seeing headlines about more home sales falling through lately, that possibility may be keeping you up at night. And it\u2019s true. According to Redfin<\/em> and Cotality<\/u><\/em><\/a>, canceled contracts have been on the rise.<\/p>\n

But here\u2019s what those headlines don\u2019t always tell you\u2026<\/p>\n

Most sales still go through. Only 10-15% hit this snag. And even so, there are things you can do to help keep your sale from becoming one of them.<\/strong><\/p>\n

The key is knowing what tends to scare buyers away and getting ahead of those issues before they have a chance to derail your move.<\/p>\n

What\u2019s Behind the Rise in Canceled Contracts?<\/strong><\/h4>\n
Today\u2019s buyers are being more cautious. Mortgage rates are stretching budgets, and with more homes to choose from, buyers have more freedom to walk away if something doesn\u2019t feel right. As Redfin<\/em> explains:<\/p>\n
\n
\u201cThat gives house hunters more options and makes them more likely to walk away if an inspection uncovers problems, an appraisal comes in low or the seller doesn\u2019t agree to concessions.\u201d<\/em><\/p>\n<\/blockquote>\n
That\u2019s why an accepted offer isn\u2019t always a guaranteed sale. But it doesn\u2019t mean you should be afraid to put your house on the market, either.<\/p>\n
It just means getting ahead of potential problems matters more than ever.<\/strong><\/p>\n
3 Things That Can Scare Off a Buyer (and How To Get Ahead of Them)<\/strong><\/h4>\n
A Redfin<\/em> survey asked real estate agents why some buyers are backing out. And their answers give you a short of cheatsheet into what could go sideways and how you can get ahead of those headaches (see graph below<\/em>):<\/p>\n
$\"a$ <\/p>\n
1. Inspection or repair issues (70.4%)<\/strong><\/h4>\n
This is the big one. And the good news? It\u2019s also one of the areas where you can be the most proactive.<\/p>\n
One simple way to head this off is by getting a pre-listing inspection<\/strong> before your house goes on the market. That way, if something needs attention, you can decide whether to fix it upfront (before you sell), adjust your price, or disclose it and come in already prepared for what\u2019s likely to pop up in negotiations. It\u2019s a lot better to find the skeletons in the closet before a buyer does.<\/p>\n
2. Buyer financing falls through (27.8%)<\/strong><\/h4>\nEven buyers who are pre-approved can run into financing issues before closing. And with mortgage rates<\/u><\/a> putting extra pressure on affordability, some buyers are finding it harder to make the numbers work.<\/p>\n
While you can\u2019t control whether a buyer\u2019s loan goes through, you can work with your agent to look closely at their financing before accepting an offer. And if affordability is the concern, your agent can help you explore whether incentives<\/u><\/a> like closing cost <\/u><\/a>credits or a mortgage-rate buydown could make a difference.<\/p>\n
3. The buyer can\u2019t sell their current home (21%)<\/strong><\/h4>\nSometimes, your buyer needs to sell<\/u><\/a> their house before they can buy yours. And if their sale falls through, yours could be affected too.<\/p>\n
That\u2019s why it\u2019s important to understand any home-sale contingencies before accepting an offer. Your agent can help you look at where the buyer is in their own selling process and what protections you may want in place.<\/p>\n
The goal isn\u2019t to eliminate every possible risk. It\u2019s to avoid being caught off guard by the ones you can plan for.<\/strong><\/p>\n
Don\u2019t Let the What-Ifs Keep You Up at Night\u00a0<\/strong><\/h4>\nJust remember when you read headlines about canceled deals, they don\u2019t give you the full picture. Most <\/strong>home sales<\/u><\/strong><\/a> still make it to closing.<\/strong><\/p>\n
And if a sale does fall through, that doesn\u2019t automatically mean your house won\u2019t sell. Sometimes a buyer\u2019s circumstances change. Sometimes an issue comes up that can be addressed before the next offer.<\/p>\n
What matters is having an agent who knows how to spot potential problems early, help you navigate negotiations, and keep your sale moving forward.<\/p>\n
Because while you can\u2019t control every twist and turn, you can control how prepared you are.<\/strong><\/p>\n
Bottom Line<\/h3>\n
There\u2019s no need to let the fear of a buyer backing out hold you back. While no sale comes with guarantees, a little preparation upfront can go a long way toward making the whole process smoother.<\/p>\n
If you\u2019re ready to make a move, talk to a local agent about whether a pre-listing inspection makes sense for you.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
There\u2019s nothing quite like the excitement of getting an offer on your house. You\u2019re one step closer to moving on to what\u2019s next. But what happens if that buyer backs out or ghosts you before closing? If you\u2019ve been seeing headlines about more home sales falling through lately, that possibility may be keeping you up […]<\/p>\n","protected":false},"author":1,"featured_media":6767,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-6766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t