How to Lower the Chance Your Sale Will Fall Through

How to Lower the Chance Your Sale Will Fall Through

In recent years, we’ve seen an increase in the number of home sales falling through. Not only does this create extra stress for sellers, but it may also result in the seller accepting a lower price from the next buyer.

Most sales that fall through do so because of inspection issues. If you plan to list your home, start by considering the following:

1. How old are your heater and air conditioner? Do they need servicing or replacement?
2. How old is the hot water heater?
3. How old is the roof? Does it appear to be in poor condition?
4. Do any of your windows leak?
5. Are you aware of any electrical issues?
6. Are any of your appliances broken or not operating properly (e.g., stove, dishwasher, microwave)?

Sellers can minimize the chances of their sale falling through by repairing as much as possible prior to listing the house. Few houses in our area sell without a home inspection, and any problems are likely to come up then.

Our standard PA agreement of sale allows buyers to terminate the agreement during the inspection period if they don’t like the inspection results. They don’t necessarily have to ask the sellers for repairs.

Alternatively, buyers can opt to ask the sellers to make repairs. Sellers should make a good-faith effort to come to agreement with the buyers on repairs, because if they cannot, the buyers might terminate the agreement and the sellers will need to put the house back onto the market. #realestate #housing

Copyright @ 2020 by Annette Nelson. All Rights Reserved.