Selling a Home in Brentwood Ca 94513 - List It Once - Sell It Twice

List it once, sell it twice.  Once upon a time a statement like that would have no context whatsoever. But unfortunately it probably rings true for most of us. Listing a property is just the first step in a process. And completed transactions these days often see buyers come and go for any number of reasons, including:

• Inability to qualify. Things may look good on the surface, but with tightening guidelines underwriters may find reasons to deny the loan.
• Income changes. If a buyer’s hours get reduced or they’re laid off altogether, of course they’re going to pull out of the deal.
• Appraisal issues. If a home appraises for more than the purchase price, the buyer will usually be delighted. But it goes the other way too. In those cases, either the buyer will need to bring more money in to close or the seller will need to accept less. Yes, sometimes a second appraisal is requested and all is well, but often the transaction falls apart
• The property doesn’t qualify. The lender may determine that there is something about the property that they deem risky, and they’ll refuse to fund the loan. Buyers and sellers can’t always find a workable solution, so it’s back on the market for the seller’s property.
• “The buyer’s walked.” In the case of short sales, this is heard far too often. Some agents will write an offer on a short sale, and allow the buyer to keep looking or even writing offers on other properties. They then go back and pull out of any others that they’ve written on. This isn’t an ethical practice by any means unless that buyer truly has the wherewithal to purchase all of those properties. Other times the buyers just get tired of waiting for the short sale approval, and want to move on.

Whatever the circumstances, it’s prudent to inform sellers that these situations are not uncommon, although certainly unwelcome.  Managing expectations from the beginning will help people know what they potentially might experience. If a purchase contract comes to a halt mid-point, at least all parties won’t be completely taken by surprise.

 

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including Castro Valley, San Leandro, San Lorenzo, San Ramon, Danville, Brentwood and Mountain House