When the Buyer Wants Out

Real Estate Agent with Associate Broker, Momentum Realty
Sometimes it is tough to be the seller. Even when the market conditions seem to skew your way, getting your house under contract can be tough. I get it. I work with both buyers and sellers. I empathize with my seller when more than one buyer complains about the backyard...and there is really nothing we can do about that. I feel their pain when an interested party shows up and then disappears.  
Navy Door
When I work with my buyers, however, it is a different type of empathy. They are selecting a home that will house their lives moving forward. Whether this is a 'forever' home or one that they will own for 3-5 years, they will be living their lives here and choosing wisely is important.
I was recently working with a buyer who saw a home that they liked. They carefully considered the price, at the top of their range, and decided to move forward. We didn't forego any of the contingencies in our offer; they wanted to be absolutely sure that the home was in good condition, free of radon and that it appraised for the sales price. 
We did the home inspection this past weekend. The radon came back within EPA standards. The pest inspection was clear. We found that there were a number of things that needed to be repaired, but many of them were manageable. The concern for my client, however, was the age and condition of the systems (HVAC, Water Heater, roof, etc.).
My client when home and began looking at what the cash outlay could be over the next 1-10 years, they realized that this was not the right house for them to buy. There is nothing wrong with this house that can't be fixed. My client is just not the right buyer for this house.
It is in a great location and nice neighborhood. I am sure that a buyer will come along, make the updates and have an incredible home. It just won't be this buyer. 
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

It happens.  Sometimes buyers just get old fashioned "Buyers Remorse."  When it happens and I have the seller, I advise just moving on as quickly as possible.

May 07, 2019 04:28 PM #1
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

It does happen that buyers might decide after the inspection not to move forward. In this case, their decision wasn't made on something that was currently wrong, but on what the future maintenance costs might be. 

It is sometimes difficult to find the right buyer!

May 08, 2019 03:02 AM #2
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Holly. I can't make out the picture, but the point you make is thoughtful and accurate. Once a buyer is done, it is over.

May 08, 2019 04:35 AM #3
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