Most home sales that fall apart do so for one of a few reasons: the inspection turns up problems, the buyer’s financing falls through, the appraisal comes in low, or the buyer cannot sell their own home in time. Knowing these risks up front helps both sides keep a deal together.
What are the most common reasons?
- Inspection surprises. Roof, foundation, plumbing, electrical or moisture issues the buyer did not expect.
- Financing problems. A change in the buyer’s job, credit or debt can stop the loan.
- A low appraisal. If the home appraises below the price, the lender will not cover the gap.
- Home sale contingency. The buyer’s current home does not sell in time.
- Title or disclosure issues. Liens, boundary questions or details the buyer learns late.
How can sellers prevent a canceled sale?
Consider a pre listing inspection so there are no surprises, complete your disclosures carefully, and price the home in line with recent sales so it appraises. When offers arrive, look closely at the buyer’s financing and contingencies, not just the price.
How can buyers protect themselves?
Get fully preapproved before shopping, avoid new debt or job changes until closing, and read the seller’s disclosures early. Your agent can help you decide which contingencies to keep so you are protected without weakening your offer.
Want a smoother sale?
Call Molly at 206-498-4137, check your home’s value, or search homes for sale.