Resurrecting the “dead” deal. It isn’t so much of a miracle anymore.

Yes I guess we have all seen this happen.... gone today back here tomorrow!

This really underscores the need for a robust preapproval for buyers.  It will save everyone, especially them, a lot of "headache".

Sticking with the orginal buyers in a situation like this one is usually going to be the best answer for a seller.  The knee jerk reaction is to want to move on, but when you look at the time involved, it's better to get the current situation solved.

Bring on the resurrections! 

Richard, Never say never!! Always working and moving forward.  You just never know how things are going to work...

Richard, I'm hoping to resurrect a deal of my own soon. A short sale denied, a buyer and contract lost, a foreclosure complete... dead deal? Maybe not! The REO listing agent is now contacting me about reopening negotations.

Because nothing in this market can be taken for granted, no prospective buyer can be overlooked. It takes patience and diligent effort to track, develop, and capitalize on leads- we all need those qualities now!

Very true.  I too was in a hurry to cancel buyers who seemed shaky.  Now, I just want to help them get the deal done so I don't have to face the market again.  Seller's too aren't in such a hurry to deny repairs or credits.  It's a buyer's market!

Hi Richard -- I agree.  If you have two clients who are both very motivated and committed, it's usually better to hang in there if there is a moderate to good chance things can be worked out, as opposed to starting over.

You're right Richard, a lot of deals are completed after the original buyers correct their credit and come back with a new offer on the same house. If the market were moving quickly, the house would have been bought by another buyer but these days, there seems to be time for buyers to make corrections.

You mentioned "in the good ol days sales moved too quickly, there might be something to that.

This scenario is a definite possibility in today's world especially with so much difficulty getting a loan closed.

Richard, and the almost dead like the one I have that was supposed to close Sept 24th. It almost became deceased last week through sheer frustration and everyone came together and we hope it will see a close this week.

As long as foolish pride does not get in the way, many more deals could probably be saved.

Keep your fingers crossed for me!  I have a deal right now that is a "STRICTLY AS-IS" sale, in need of a cash buyer or someone who qualifies for a 203K.  Buyer now wants to bail.  Helloooo, did you think it just needed paint and carpet? 

Richard,  I pretty much live with the mantra of "if there is a will, there will be a way"...most transactions will come together is people focus on the solutions and work in a collaborative manner.  Playing the blame game is a waste of time and energy!!!

Hey so true, "it ain't over til it's over!"  Anything can and does happen often.

Patricia/Seacoast NH

Richard, you are right flexibility is the key. Sellers have to realize there may not be another offer down the road.

So true!  It's like "Lazarus" coming back to life!  Great news for our buyers and sellers.  Let's continue to be "dealmakers!!!"

The mummy photo is just a little bit scary Richard! -- new word for me - the graphic says gamboge, will have to google that!