When a buyer reverts on any offer of your home sale listing, the first thing crossing your mind must be to avoid any hindrance in house selling and prevent things, which may go wrong after selling it.
Acceptance of a purchase offer is half work done. You can take property selling as ¼ , negotiations as 1/4th , going through inspection of home as another quarter and lastly handling the final requirements of loan as last quarter.
A lot of the things may go wrong after the contract has been finalized. This is the point where the choice of a reliable listing agent comes into play. If you hired an unprofessional agent for handling the finalization of contract, problems would occur.
Some Obstacles in Selling Your Home
- Earnest Deposit Amount
Earnest money deposit is basically the contractual obligation, which indicates buyers’ faith. If the seller is not ready to pay the earnest money deposit amount after the contract finalization, it may create disputes during the final stage.
If the buyer has not deposited the earnest money deposit it can be a red signal for you about the intentions of buyer. Therefore, ensure that you discuss these details carefully with your agent so as to avoid the last minute issues.
- Poor Home Inspection
Many buyers low very little about the inspections and are generally unable to interpret them. The agents are of course, of not assistance. A lot of buyers cancel the deal after inspection as they don’t realize that all homes have some or the other defects.
In some other cases, they ask seller to get the home repaired and demand barbaric sum for minor repairs. Therefore, ensure that your agent is experienced enough to convince the buyer about minor repairs. For such professional services you can visit House Buyers 123.com.
- Low Appraisal
You will come across the agents who will assert you not to go to appraiser. They may even make the appraiser uncomfortable by teaching them on how to do the job. These types of practices are not appreciated by appraisers.
Therefore, you must hire an agent who knows how to coordinate and communicate with your appraiser. The agents should be assisting the appraiser on every step so as to get the best possible valuation of the house.
- Mortgage Issues
You may face issues with the mortgage as the loan offer may not approve the file. The buyer may be out of employment or he /she must be divorcing, in such cases it becomes difficult to get the loan amount cleared.
- Sale of Your House Dependent Upon Sale of Buyer’s House
Everyone doesn’t have enough funds to hold two residences at a time. Your buyer may be short of funds and may need to sell his house before finalizing contract with you. In these cases, things may get delayed and non realization of amount may even lead to cancellation of the deal.
Conclusion
This guide will serve helpful to you in deciding how to avoid the issues that may arise in sale of your house and finding out an experienced agent who can handle these issues easily.