Why are so Many Real Estate Sales Falling Through?

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  1. Nancy…..I have a couple of suggestions on this topic. First, I think it is essential that we start to counsel all sellers over $500,000 to do a pre-inspection on their home. Sure it might cost them $500, but it could help to eliminate a sale falling through. That’s not to say that the buyer still won’t do their own inspection, but I think it shows good faith and confidence in the condition of a home when it has been gone over by a licensed, professional home inspector prior to listing.. The exception to this would be any home that is less than 3 years old. Due diligence is the most important part of any transaction and it is where most litigation or problems can occur. Why be afraid of it? Let’s get our sellers out in front on this issue and show buyers and buyers agents that out listing is ready to go! In regards to contingency offers I would suggest avoiding them unless there is a nice non-refundable earnest money. If the potential buyer is confident that his home is going to sell, then make him prove it with a non-refundable deposit. At the very least a 72 hour kick-out clause should be in place and the home should continue to be marketed aggressively. When agents take control of the sale then a lot of these weak deals never occur. Wishing and hoping is for people sitting on the bench…..the first team…the real winners are always in the game!

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