5 Things That Could Go Wrong When Selling Your Home

Sellers have different reasons for selling their homes but we all want the same thing - to sell the house in the fastest possible time for top dollar.

These are the reasons that drive sellers to be creative and smart when marketing their home, doing all necessary changes and upgrades for a good deal. And once you've found the perfect buyer, all the stress, anxiety and weariness disappear like magic.

But, hold your horses! Some things could still go wrong even after the purchase so you better postpone the celebration until everything's finished.

Here are some mishaps that could turn your deal into a bad experience.

1. No earnest money deposit. It's a huge disappointment when you discover the buyer has not deposited funds into escrow and there is no earnest money deposit on file. It makes everybody uncomfortable and it's a big red flag if the money is not deposited.
2. A low appraisal. When purchasing a home, the buyer's lender often requires an independent appraisal of the property. Even if the seller and buyer agree on a price, the lender wants to ensure the property is indeed worth that amount. If the appraisal is lower than the sale price, there's a possibility of the buyer backing out instead of paying the difference.
3. A bad home inspection.Plenty of buyers want to cancel after a home inspection, and they don't realize all homes have defects. Or, they ask the seller to repair issues or demand outrageous sums of money for minor repairs.
4. Final inspection delays. Many buyers ask to do a quick walk-through of the home after the seller has moved out, often within a day or two of the closing. If furniture or a rug was hiding damage, or the movers put a hole in the wall, the closing may be delayed as both parties decide how to deal with any issues that arise.
5. You have no where to go. You've been so busy and immersed in finding the best buyer for your home that you forgot to make plans for when you're moving out. Or you've come up with a plan but something goes wrong and you find yourself. So before you finalize everything, make sure you have somewhere to stay during the move out.

There are so many things that can mess up so you need to be prepared and coordinate with your real estate agent how you're going to handle these setbacks.