What a difference a year can make.
So far this year I have had three deals fall apart at some point down the line in the transaction.
And before the assumption is "then what are you doing wrong !" let me clarify that 1 issue was a denial of a commitment after an initial approval (after inspection and 1 month), 1 attorney who upset the other side and they walked away, and one seller who upset my buyers and they walked away !
So what has caused this frequent wave of deals falling through ???
My thought is that buyers in general are feeling more and more in control, and more willing to walk away at basically the drop of a hat if a seller isnt willing to do things entirely their way, feeling that if this home doesnt work, there's another one round the corner - and on the other side, many sellers are getting frustrated and 'pouty' that they dont control the market right now, and are standing on ceremony and not understanding that they may have to swallow their pride a little and be more diplomatic if they want to sell their house !
... and in that diplomacy is an understanding that their home may not get the sale price that they want !
And dont even get me started on the extreme tightening of the requirements from the mortgage underwriters !!
One set of buyers of mine submited all the contingency paperwork, and just notched over the credit score requirement ... on the 1st of the month ... but on the 12th of the month, the underwriter raised the credit requirement for their program, and it knocked my clients out of a commitment !
Ahhh the buyer's market ! ... good times :o)
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