B.O.M.'s: What percentage of your deals fall out of escrow?
We've all had them - BOM's - Buyer-eancelled escrows that end up Back On Market
For any real estate agent that has been around for at least 6 months, you've probably had one of these happen to you.
If you represented a buyer, shown them 12 million properties, they finally get an accepted offer, and then then during mid-stream of the escrow...............BAM!!!! They decide to cancel escrow.
Or even worse, you have a short sale that you've been working on getting approvals since August 12th, 1995, you finally get approvals on your accepted offer and....................BAM!!! Buyer cancels.
And there's not a pill in ANY drug store that can alleviate the pain and nausea from a cancelled escrow!!
What has been your experiences with cancelled escrows as an agent?
What percentage do you think, on average, end up as cancelled escrows with your deals?