Why Did that Home Come back on the Market?

By
Real Estate Broker/Owner with House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

Right now in Denver over the last 7 days, we have seen 6% of the current active listings return to the market.    Good Question!

 

1.   Buyer never delivered earnest money.

2.  Buyer's earnest money check bounced.   (That is usually a sign the deal won't close!)

3.   Buyers got cold feet.

4.  Buyers found things on the inspection they could not live with.

5.  Buyers asked for repairs, and Seller denied.

6.   Buyer's financing had issues.

7.  Buyer had a contingency, and could not sell their primary home.

8.   Appraisal came in low, and parties could not come to an agreement.

 

 

This is why I always recommend to my buyers to write a backup offer, you never know when/if the first contract will go to closing!    If the listing agent does not enter into the broker's remarks why the transaction terminated, I always make a call, and then my client can decide if they want to move forward.

 

Sometimes being the "bridesmaid" with multiple offers can be a good thing!

 

 

Comments (28)

Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs

Wow! Coming back on market makes the agents feel bad. Starting to sell again takes time...

Oct 19, 2021 06:40 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Eric, it sure does feel bad, but there are times you have no control.

Oct 19, 2021 06:42 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Joan - oh yes, that is very good advice to follow.  You never know.  It can't hurt.

Oct 19, 2021 07:20 AM
Gwen Fowler-864-638-3599 SC Mountains Lakes Homes
Gwen Fowler Real Estate, Inc - Salem, SC
Gwen Fowler Real Estate, Inc.

In our area, the agent took the first offer and did not call the lender or see the earnest money.  I like multiple offers as I can then look through them and find the best one for my seller. I am sick of seeing FB ads about how it went under contract in 3 hours, nothing when it comes back on the market in 5 days.

Oct 19, 2021 07:43 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

if it happens after a few days, other buyers always assume the home had inspection issues. This is not always the case, but tough to overcome.

Oct 19, 2021 07:54 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, a buyer has nothing to lose if they write a backup offer!  

Oct 19, 2021 08:47 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gwen Fowler-864-638-3599 SC Mountains Lakes Homes you are right, it pays to look at multiple offers and HOPEULLY take the best one, and get a backup in place too.

Oct 19, 2021 08:48 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff, you are right, it is a hardship on the listing no matter what the reason a home comes back on the market.

Oct 19, 2021 08:48 AM
Tony Busanich
TD Bank - Freehold, NJ
1-4 FAMILY HOME LOAN SPECIALIST

Thank you Joan, for the great post and information. I see more issues with home inspections these days then with any another part of the process. 

Oct 19, 2021 09:29 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Tony Busanich I agree with you.   I think MOST of the back on market are inspection issues.  

Oct 19, 2021 11:10 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Joan- you've shared some good reasons why some of the homes are coming back on the market. And I have a feeling that some of the buyer's remorse comes from feeling that because of the low inventory, they have to make a quick decision. 

Oct 19, 2021 07:15 PM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

you are so right Joan. Always call that agent first and find out why it BOM'd

Oct 19, 2021 08:46 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I think it's always nice that somebody gets a second chance at a great home

Oct 19, 2021 09:57 PM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Nice post!  There are many reasons why a home will come back on the market and most of them don't have to do with the condition of the home.

Oct 20, 2021 05:32 AM
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO
SelectAnn.com

Joan Cox ,

Good information for buyers in this crazy market!

 

Oct 20, 2021 06:39 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kathy, that is probably true, quick and offering too much over fair market value.

Oct 20, 2021 06:53 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Rocky, ALWAYS call and find out why....

Oct 20, 2021 06:53 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Laura, I so agree! 

Oct 20, 2021 06:53 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Brian, there could be many reasons why a home comes back on the market!  

Oct 20, 2021 06:54 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ann, it has been crazy! 

Oct 20, 2021 06:54 AM