Friday, November 29, 2019 / by Jody Lee
You are selling your home, and everyone hopes that it will go smoothly. There are things that can stop your home from selling. Selling your home can be stressful and adding variables can make it emotional. Having an agent to help navigate the selling process can relieve some of the stress. Knowing what is happening and how to handle it can help the process.
One of the first things that can hinder a home sale can all start before it goes under contract. When you have buyers looking at your home, if they see defects in the home, most buyers will go running. They will wonder what else is wrong with the home. This can easily be fixed by doing all those little repairs before you put your home on the market.
During the inspection period should a buyer find something that they just don’t like or a serious issue with the home they can walk away from the contract. This is unfortunately a common time when buyers walk.
When a buyer presents a preapproval letter with their offer, you know that they have started the process of their loan. Buyers do need to continue providing information to the lender, and not make any changes in their financial status. Should A buyer decide to make a large purchase or fail to give all of their information. The lender and underwriting will find out. Those types of things could cause a buyer to no longer be approved financially.
Some buyers have a contingency that they need to sell their home to financially qualify for their loan. Should the buyer not accept an offer on their home that could stop the sale of your home to them.
An appraisal that comes in low can either stop a sale or open it up for negotiations. If a seller decides they want to stay with a purchase price that is higher than the appraisal, the buyer will need to come up with the difference at closing. If the buyer can’t come up that additional amount, then this will certainly stop the sale of the home.
If you would like more information please give me a call, I’d love to sit down with you and help you sell your home.
Haven Real Estate Group