Special offer

What If My Seller’s Deal Falls Through?

By
Title Insurance with Title Junction, LLC

During a real estate transaction, we all hope for smooth progression and eventually a graceful end. However, there are cases where the seller’s deal falls through. If this happens, in more cases than not, the seller purchases a different home with the money that they take from the closing. But what if this isn’t the case? What if your seller doesn’t have a place to go? What if they decide against leaving the home? Is this the case? You’ve got three options.

1. Keep your money. Lock away your funds and postpone the closing until the seller is officially vacated from the property. In addition to this, for your own compensation, work on tying a daily penalty. Tip: The penalty should be severe enough where it is wiser financially for the seller to stay anywhere else

2. Proceed to close. Some buyers want to move on despite discrepancies with the seller. Though it is quite a way to stand your ground, this scenario proves to be demanding financially, emotionally, and legally.

3. Decide not to close. If you are on the fence about the property and the time, hassle, and effort proves to be too much then maybe this home wasn’t worth it to you in the first place. Better to discover this now when it is easy to walk away from a closing table rather than afterwards.

Nevertheless, no buyer dreams of being in this position but it does happen. Knowing your options before something like this happens keeps you ahead of the game and prepared during what may be the greatest investment of your life.

Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. Employees of Title Junction can also act as a witness in courtesy closings as well as an escrow agent or a notary public. Please contact Jennifer Ferri of Title Junction, LLC for further information @ 239-415-6574 or http://www.title-junction.com.

Posted by

Jennifer Ferri

Owner and Operator

Title Junction LLC

Comments (0)