I have a short sale listing that has had two offers that got the sellers into escrow. In both cases the buyers backed out of the offers without cause, i.e., there were no problems with the property discovered during the inspection period, they were not denied credit, the sellers agreed to all terms.
Yet during the escrow the buyer selfishly changed their minds. One because they thought they could get a better deal, the other..because they decided they wanted to go on vacation during the escrow! Unbelievable!
Buyers, please take this to heart, if you are not prepared to see the deal through to the end...DON'T SUBMIT AN OFFER! Not only do you waste the time of dozens of people including your agent and the sellers agent, but also escrow officers, title officers, loan officers, processors etc, etc. This is just plain selfish on your part!
Maybe even worse, is you take the sellers property OFF THE MARKET, denying them the possibility of selling to a serious buyer (which you obviously are not), and possibly costing the seller thousands of $$$$$!!
In a time where title and escrow officers are losing their jobs due to lack of income for the companies they work for, and Realtors having to take second jobs while working their butts off, and homeowners are losing their homes because they can't sell them in time to avoid foreclosure, it's time for buyers to think of more than just themselves in this process.
Have some consideration for the people you are REALLY HURTING in your frivolous buying games.
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