You have listed your home for an attractive price and you attracted a buyer. You’ve accepted an offer but still closing hasn’t taken place. Why do you think the sale is being delayed? We know! Home sales fall through for many reasons, some you may not even be aware of. Here are the four most common reasons why home sales fall through sometimes.
1. Inexperienced/Incompetent Real Estate Agent
Your real estate agent is the main person who is responsible for selling your home. To do this successfully, they have to have a high level of experience in the field. An inexperienced agent can inhibit your home sale process because they don’t know what they’re doing.
You can avoid this problem by selling your home for cash to our cash home buyers in Phoenix.
2. Buyer Couldn’t Get Approval For A Mortgage
The majority of home buyers finance their purchase with a mortgage. However, the days of getting a quick approval are over. And sometimes those who need financing will back out of the home sale at the last minute, leaving you in a pretty tough spot.
You can avoid this issue by selling your home for cash. We buy houses in Phoenix, regardless of condition or location. You don’t have to wait on lending approval. Get fair cash for your home today.
3. Home Inspection Failed
A home inspection is a requirement for a buyer who’s going to purchase your home with a mortgage. The home inspection may lead to unfavorable results, and if this happens your home may not meet the lender’s criteria. Moreover, a failed home inspection is a huge red flag for a buyer who’s on the fence about purchasing your property.
4. Closing Documents Issues
When it comes to selling a home, title transfer issues are common. Here are some more specific title-related issues:
- Outstanding liens
- Errors in public records
- Previous bankruptcies
- Undisclosed heirs
The closing documents contain information which directs how the title of the property is to be transferred from the seller to the buyer. Therefore, a buyer will do everything in their power to make sure the title is correct so they don’t face litigation later on.
While you can control some of the factors that affect a home sale, there are a few things you cannot control. When buying or selling a home, it is critical to have realistic expectations. And learning the common reasons why real estate transactions fail will put you in a much better position to predict whether your transaction will fail or not. And with this information, you can take necessary steps to ensure a smooth and transparent sale.
If you have been unable to sell your house for a long time, a cash home sale may be your best option. We buy houses in Phoenix for cash. Call our team today and we’ll help you sell a house fast in Phoenix for a fair price.