Why Do Some Real Estate Transactions Fail?

11/16/16 • -1 min

Real estate transactions can fall apart for a number of reasons, but I have noticed three in particular that cause deals to fail in today’s market.

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Whether you are buying or selling a home, you may end up in a real estate transaction that falls apart. Why do some real estate deals fall through?

There are many factors that go into a real estate deal, but there are three main reasons why a transaction could fail:

1. You ask for too much on the inspection report. Since we have low inventory right now, sellers often end up with multiple offers. As a result, they are not going to fix every single item on the inspection report. If you are buying a home, focus on the major issues in the home rather than requesting a bunch of cosmetic fixes. If you ask the seller to take care of everything on the list, they will simply move on to one of the other six offers they have on their home.

2. Your real estate agent gets emotionally involved. Unfortunately, there are a lot of agents out there who let their emotions interfere with your transaction. As real estate agents, our job is to represent our clients’ needs and interests. Sometimes agents feel as if they are the ones buying the property and end up taking everything personally, which can cause your deal to fall through.

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Focus on major issues in the inspection report instead of cosmetic fixes.

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3. Bad negotiation tactics. In today’s market, if you offer $250,000 on a house that is worth $300,000, you could really insult the seller. Our job as real estate agents is to get you the best deal, but we are also here to educate you. That way, you can offer a fair price, avoid angering the seller, and get a deal done. If you insult the seller at the beginning, you’re in for a difficult battle during the negotiations.

Fortunately, a professional real estate agent can help you avoid any of these problems. If you have any other questions about buying or selling a home, just give me a call or send me an email. I would be happy to help you!

Real estate transactions can fall apart for a number of reasons, but I have noticed three in particular that cause deals to fail in today’s market.

Want to sell your home? Get a FREE home value report.

Want to buy a home? Search all homes for sale.

“

Focus on major issues in the inspection report instead of cosmetic fixes.

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Previous Episode

Why the Tucson Market Is Changing

Inventory is extremely low in the Tucson metro area and we're seeing the market turn into a seller's market. We're even seeing sellers receive multiple offers on their homes.

Want to sell your home? Get a FREE home value report.

Want to buy a home? Search all homes for sale.

Tucson is really turning into a seller's market, so I wanted to stop by with a quick market update.

There is extremely low inventory all over the Tucson metro area. I've talked about this before, but I can't stress it enough: if you're thinking about selling at all, inventory is very low right now, so you have a very good chance of getting full price for your home. We're even having a lot of sellers getting multiple offers on their house and getting to choose one that's above asking price in some situations.

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You have a good chance at selling at or above asking price.

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Low inventory puts you in a great negotiating position because buyers have fewer options to choose from, which means that you won't have to do many repairs after an offer comes in. These are the kinds of things that will save you money.

If you've thought at all about selling your home, give me a call or send me an email today because you don't want to wait any longer to take advantage of this market. I hope to hear from you soon!

Next Episode

What Do Rising Interest Rates Mean for You?

Interest rates recently went up. What does that mean for buyers? Will they continue to rise? I’ll go over everything you need to know today.

Want to sell your home? Get a FREE home value report.

Want to buy a home? Search all homes for sale.

Recently, interest rates went up. What does that mean for you?

Rising interest rates are not a bad thing; in fact, they indicate that the economy is improving. Ultimately, it’s still a good time to buy a home because you won’t have to pay the 9% interest rates of the past. Depending on your credit score, you might not have to pay more than a 5% interest rate.

However, we recommend locking in a low interest rate on a 15-year or 30-year mortgage now, as interest rates should continue to rise.

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Interest rates will continue to rise, so now is a great time to buy.

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With the new year, our market will have a lot of activity. However, inventory is still low, so make sure you get pre-qualified now. That way, when your dream home comes on the market, you will be able to make an offer right away. Getting pre-qualified also gives you an advantage in this market, as we are still seeing multiple offers due to low inventory.

If you have any other questions about interest rates or our current real estate market, just give me a call or send me an email. I would be happy to help you!