In this post, I was doing a little bragging about how if a house is priced right and in decent condition it'll receive multiple offers...even in this market! I was feeling pretty proud of myself (and the Seller) for getting the house into decent showing condition and pricing it so aggressively that it couldn't be ignored.
Well, a good offer came through and everything was moving along until we got to the home inspection. It seems that home inspector found lots and lots of stuff. Some of it pretty minor, other stuff that are in the not-so-minor category. The bottom line, though, is that the Seller is tapped until the proceeds from the sale are distributed and they've already given up the max in the way of closing help.
So now the negotiation with the Buyer's agent begins. Hopefully, this will have a happy ending but it's possible the home may go back on the market.
I'm not a real fan of that since everyone always asks, "What happened to the first contract?" And the price is almost always lower.
So, the moral to this story is to never count your chickens before they're hatched and certainly don't count the proceeds (or commission) before the ink is dry at the settlement table. It seems rare that things go smoothly from beginning to end......
Ken~ It is amazing how quickly things can go wrong! It is important to stay on top of things, but even then sometimes things happen beyond your control....