It is not pleasant when a transaction fails to close. Thank goodness this does not happen often. In real estate, there are many reasons that settlement may not happen.
Here are a few of our challenges...
=Condo and association issues
=Personal crisis -illness, death, divorce
=Buyer and seller remorse
=Change in employment or transfer
But there is another one that is a challenge to deal with.
=Analysis Paralysis which is the state of over-analyzing or over-thinking. This goes along with involving and asking many others, not involved in the transaction, for their opinions. Decisions or actions are not completed and the effect paralyzes the outcome. This does not mix well with buying and selling.
As professionals, we need to manage the contingency dates and the inspections. We need to stay in close contact with our buyers, sellers, co op agent, contractors, appraisers, title company, lender and anyone else involved. As professionals, we need to recognize when the deal is no longer viable and say
When the horse is dead...dismount!