There are reasons that a buyer cannot buy they don't all have to do with financing. Some have to do with terms, some with types of homes and even a few more...
- The condo restricts pets and they have a dog and a cat. No, you can't sneak them in.
- The prospective buyer is 93 years old and the unit listed is on the top floor. There are no elevators.
- A condo with no balcony - not a good match for someone with claustrophobia.
- A penthouse unit - a bad idea for someone afraid of heights.
- The buyer is a wheel chair user. Would you at least remind them, it's split-level house?
- The family wants all bedrooms on the same level. Are you sure you want to show this Cape Cod?
- The buyers haven't put their home on the market yet because they want to wait until they find something they like but cannot purchase without a home contingency. The seller will not take a contingency.
- The listing is a co-op. The by-laws state the unit must be purchased for cash - there can be no mortgage. Surprise when the buyer asks if the monthly fee "includes the mortgage payment."
- High condo fees. The prospective buyer didn't ask before seeing the property (and his agent didn't tell, obviously). Then he asks if we can negotiate the fees down along with the price. Um...sure, right along with the property taxes.
- The buyer wants privacy, does not want to be able to see other houses. There are homes on both sides because it is in a development.
- Buyer wants a quiet street and the home on the beltway.
- Seller is building and needs a long settlement. Buyer needs to move in 2 weeks.
We could come up with a lot more reasons.
It is a good idea to research the specific needs before showing a property that a buyer can not purchase.