Yet another termination!

By
Real Estate Agent with Atlanta Communities 303302

Nope, don't get excited. No one got "Offed" in my listing. A termination happens when a contract is ended before closing, usually by the Buyer. The reasons are many. So far, I have had 3 terminations on the same listing in about a month.

So what is the problem? Well, the first buyer, even though they were pre-approved for a mortgage, failed to get a loan and backed out. The second buyer just got cold feet. And the third? Well he basically wanted the entire home rebuilt by the seller. And the seller said...Next!

So here we sit, back on the market again. I think some of this carnage could have been prevented by a more hands on buyer's agent, but that is just my opinion.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

Comments (6)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Peter den Boer - hopefully the 4th will be a charm.  Happy Thanksgiving.

Nov 29, 2019 06:41 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Peter - for whatever reason, things happen.  Move On and Move Forward.  Hopefully the propety and your marketing will bring better results.  Good luck.  

Nov 29, 2019 07:03 AM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Peter den Boer I'm old school and my thoughts are "everything sells" but it "must be at the right price"..... there a many excuses for terminating an agreement but if it were at the right price, they'd perform for fear of losing a "properly priced listing".... just sayin'

Nov 29, 2019 07:43 AM
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!

That really is hard on the seller.  I had a great listing that seemed cursed.  I had 13 offers 4 of them good.  None of them settled.

Nov 29, 2019 10:13 AM
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Sad for the seller.  Hopefully there was earnest money involved so 2 of the ventures was not a complete failure.  Sounds as if these buyers were not serious. The third, maybe a little unrealistic but if the home inspection was not good then the sellers may need to do some repairs.

Nov 29, 2019 10:14 AM
Dena Stevens Coriz
Rocky Mountain Realty - Canon City, CO
Putting The Real Into Realtor Since 2004

I agree, more pro-active buyers agents can usually prevent some drama. It's about educating both the buyers and sellers. If sellers are prepared and buyers are educated seems that things go better all the way around. 

Dec 05, 2019 10:10 AM