If there was one simple step that could help make your home sale a seamless process, wouldn't you want to know about it?
There’s a lot that happens from the time your house goes under contract to closing day. And a few things still have to go right for the deal to go through. But here’s what a lot of sellers may not know.
There's one part of the process where some homeowners are hitting a road bump that’s causing buyers to back out these days. But don’t worry. The majority of these snags are completely avoidable, especially when you understand what’s causing them and how to be proactive.
That’s where a great agent (and a little prep) can make all the difference.
What’s Causing Some Buyers To Back Out
The latest data from Redfin says 15% of pending home sales are falling through. And that’s not wildly higher than the 12% norm from 2017-2019. But it is an increase.
That means roughly 1 in 7 deals today don’t make it to the closing table. But, at the same time, 6 out of 7 do. So, the majority of sellers never face this problem – and odds are, you won’t either. But you can help make it even less likely if you know how to get ahead.
You might assume the main reason buyers are backing out today is financing. But that’s actually not the case. The most common deal breaker today, by far, is inspection and repair issues (see graph below):
Here’s why that’s a sticking point for buyers right now:
Buyers are already (click "Learn More" to finish the article)...
