“Ooooh, this property just came back on the market after a pending sale. There must be something wrong with it, right?“
Well….not necessarily! And yet we hear this all the time. From buyer clients to other realtors, there seems to be a huge stigma attached to homes that return to the market after a conditional sale.
Of course, one reason for a failed deal might be that the home inspection revealed a serious defect with the property. But that’s not always the case.
Sometimes, a failed deal has nothing to do with the property at all.
Some other reasons a home might come back on the market include:
- Financing: the buyers just can’t get the money.
- Buyer’s Remorse: they simply got cold feet.
- Dealing in Poor Faith: the buyers submitted more than one offer to purchase on more than one property. (Which is completely fine if you’re intending to OWN more than one home, btw)
- Dishonesty: perhaps they were less than forthcoming on their actual situation...