I am always anxious to get to the place in a deal where the contingencies are released in writing. Do you release contingencies in writing? Is there a paper trail that tells that the buyers have accomplished their part of the deal, on time?
Sellers have every right to know that buyers are performing on schedule, and fully intend to close escrow. Buyers do not need to be under the impression that they need an 'out' right up until the transfer of the deed. That said buyers can exit a deal over a final walk through gone bad. They can pull the plug and not sign off on a mortgage. They put themselves at risk of reprisal over specific performance in some states. I'm for protecting sellers from agents that do not educate their buyers. I know you're thinking that is an impossible task. I'm not looking for a perfect world. I know deals fall apart, but hey we could do better. I always have a little stern talk with buyers at the time of writing the contract to impress upon them the to do list and the time line. Please, no games here.
Why would we encourage any type of flippant behavior though? IMHO our industry has suffered over our inability to educate buyers. The idea is that the house search is long behind at this point and there is no room for double mindedness now. Please buyers, take all this as seriously as you possibly can. Think carefully before you sign on the line.
I'm just sayin'......
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