Four Contracts and Still No Closing: Why a House Can Be Marketable and Still Not Sell
Sometimes a property can have plenty of buyer interest and still not make it to the closing table.
That can be one of the most frustrating situations for a seller.
If a home has gone under contract four times, it is easy to wonder whether something is wrong with the property. But multiple contracts can actually tell us something very important:
Buyers are willing to make offers on the house.
That means the property is attracting attention and creating enough interest for buyers to take the next step. The problem may not be getting a buyer. The problem may be getting the right buyer and the right circumstances through closing.
A lot can happen between contract and closing.
A buyer's financing can change. Employment can change. An inspection may uncover something the buyer was not prepared to deal with. An appraisal can create another hurdle. A buyer may become nervous, change plans or simply decide the property is no longer the right fit.
Sometimes the reason has very little to do with the house itself.
That is why I remind sellers that an accepted contract is an important milestone, but it is not the finish line.
Once a property goes under contract, work still needs to be done. Deadlines have to be monitored. Inspections need to be handled. Lenders and attorneys have to keep moving. Questions need answers, paperwork needs attention and problems need to be dealt with as they arise.
When a contract terminates, we also need to look carefully at what happened.
Was there a common issue between several buyers?
Was financing the problem?
Was there something in the inspection that needs to be addressed?
Were the buyers simply unable or unwilling to complete the purchase?
Each failed contract gives us information that can help us prepare for the next one.
After four contracts, I would certainly be disappointed that we had not closed. But I would also recognize something positive: four different buyers saw enough value in that property to write an offer.
That tells me the property can sell.
Now the goal is to take what we learned from those previous transactions, make any necessary adjustments, and find the buyer who can make it to the closing table.
Real estate requires patience sometimes. A property can be marketable, desirable, and properly presented and still encounter setbacks along the way.
The next contract does not know there were four before it.
It only takes one buyer, one good contract, and one successful trip to the closing table.
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