These four factors can kill a deal.
To help you get through your next home sale smoothly, today I’ll discuss four factors that can cause a deal to dissolve so that you can avoid that happening to you:
1. Inspections. There are two kinds of inspections: the buyer’s home inspection and the bank’s inspection. To circumvent issues with the buyer’s inspection, you could have your home pre-inspected before putting it on the market.
2. Low appraisals. Homes appraise low because the appraiser typically looks at what has happened in the market in the past, not what is currently happening.
3. Buyer credit issues. Buyers like to purchase new things like furniture or cars when they move into a new home. The bank will run their credit again the night before closing, and those major purchases could spoil the deal.
4. The home is uninsurable. That could be because of antiquated wiring or other issues that need to be addressed before the home can be insured.
If you have any more questions about why a real estate deal could fall apart or anything else to do with real estate, feel free to reach out to me. I’d love to help you.