It is not pleasant when a transaction fails to close.
Thank goodness this does not happen often.
In real estate there are many reasons that settlement may not happen.
Here are a few...
=Condo and association issues
=Natural disaster-earthquake, hurricane
=Personal crisis -illness, death, divorce
=Buyer and seller remorse
=Change in employment or transfer
As professionals, we need to manage the contingency dates and the inspections. We need to stay in close contact with our buyers, sellers, co-op agent, contractors, appraisers, title company, lender and anyone else involved. As professionals, we need to recognize when the deal is no longer viable and say NEXT and... if possible, get the house back on the market.
Questions about selling a home...
Call Margaret Rome