Top 10 Reasons a Home Sale Falls Apart

Buying or selling a home is a big deal, and it can be stressful. There are many things that can go wrong along the way, and sometimes a sale can fall apart altogether. Here are the top 10 reasons why home sales fall apart:

1. The buyer or seller can’t afford the home. This is the most common reason why home sales fall apart. Either the buyer can’t get a mortgage or the seller can’t afford to sell at the agreed-upon price.
2. The home doesn’t appraise for the agreed-upon price. This can happen for a number of reasons, such as the home needing repairs or the market changing.
3. The home inspection reveals major problems. This can be a deal-breaker for buyers, especially if the problems are expensive to fix.
4. The buyer or seller can’t agree on the terms of the sale. This can include things like the price, the closing date, or the repairs that need to be made.
5. The buyer or seller backs out of the deal. This can happen for any number of reasons, such as finding a better home or changing their financial situation.
6. The sale falls through due to unforeseen circumstances. This could be anything from a natural disaster to a death in the family.
7. The buyer or seller can’t get their financing approved. This can happen if the buyer’s credit score isn’t good enough or if the seller’s financial situation changes.
8. The home is in a flood zone or has other environmental hazards. This can make it difficult to sell the home, especially if the buyer doesn’t have flood insurance.
9. The home is in a poor location. This could be due to crime, traffic, or other factors that make the home less desirable.
10. The home is simply not what the buyer or seller expected. This could be due to the condition of the home, the neighborhood, or the school district.

If you’re buying or selling a home, it’s important to be aware of these potential pitfalls. By understanding the top reasons why home sales fall apart, you can increase your chances of a successful sale.

Here are some tips to help you avoid a home sale falling apart:

• Get pre-approved for a mortgage before you start looking at homes. This will show sellers that you’re serious about buying and that you have the financial means to do so.
• Have the home inspected by a qualified professional. This will help you identify any potential problems with the home before you buy it.
• Be clear about your expectations with the seller. This includes things like the price, the closing date, and the repairs that need to be made.
• Be prepared to walk away from a deal if it’s not right for you. There are plenty of other homes out there, so don’t feel pressured to buy one that you’re not happy with.

By following these tips, you can increase your chances of having a successful home sale.