Even when dealing in one percent real estate, some deals do fall through. We are continuing our series of articles discussing some of the most common reasons why a real estate deal goes kaput. Our previous article covered houses not passing an acceptable inspection and the home appraisal coming in under the offer amount. Today, we will look at two more reasons why real estate deals fail.
If the buyer’s mortgage does not get approved, then the real estate deal will likely fall through. Most of the time, buyers will put a contingency in the contract that the deal may be null, and void and the buyer will be refunded the down payment if their funding falls through. But not all is lost. The Tampa seller agents/Orlando seller agents/South Florida seller agents at One Percent Guys Full Service Real Estate Pros encourage sellers to take back-up offers in the event that the original buyers financing falls through.
Unmet contingencies can also cause a real estate deal to fall through. Examples of contingencies include the sale being contingent on the buyers financing as mentioned above or contingent on the sale of the buyer’s current home. Contingencies can also include repairs, i.e., the final sale is contingent upon the seller installing a new roof that passes inspection, etc. The 1% real estate agents at One Percent Guys Full Service Real Estate Pros advise both our buyers and sellers on acceptable contingencies.
Our next article will cover more reasons why a pending real estate transaction doesn’t make it through closing.
Your friends at One Percent Guys Full Service Real Estate Pros are proud to be the original one percent real estate agents serving the Tampa Bay area. We also have 1% real estate agents covering Orlando and South Florida as well. If you are in the market to purchase a home, or want to sell your home, then one percent real estate is definitely the way to go if you want to put more money back into your pocket. Give us a call to learn more about how our exclusive 1% real estate programs can benefit you today!