It’s sad, but it happens… some real estate deals just don’t get to the ink and paper stage. The deals don’t go through and everyone is usually left disappointed and upset. So, why does this happen? Well, usually there are about a dozen reasons why a real estate deal might not make it to the final stages, but – all in all- the reasons can usually be dwindled down to two main reasons.
These reasons are inexperienced real estate agents or inspection issues.
Inexperienced real estate agents can mess up a good deal. An inexperienced real estate agent usually unintentionally messes up a deal for his or her client simply because the agent neglects to stay on time with contract dates and make the proper follow ups. This type of neglect always leads to good deals falling through. Real estate agents should have plenty of experience with ensuring they can negotiate through inspections, confirm bank appraisal results, ensure the potential home buyer gets approved, perform follow up with attorneys for closing documents (as far as being reviewed and prepared), and so forth. Dates and details are key when it comes to closing deals.
Inspection issues are also a main reason deals fall through. It’s important to remember that every home will have issues, regardless if you are buying or selling a home. The primary reason for inspections is to make sure the home doesn’t have any major deficiencies that would prevent you from selling or buying it. Inspections that go wrong rightfully call off deals. Usually, a seller will become informed about their home’s issues during this process and they have the chance to correct the problem and then put the home back on the market. The typical reasons why a home fails inspection are mold, pest infestations, foundation/structural issues, and roof leaks.
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