Why home sales fall apart

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Most sales fall apart because the buyers discover something new about the transaction that they didn't know when they made their offer. This could be new information about the property, the property condition, the neighborhood, how much they can afford or the price they agreed to pay. Most of these deal-stoppers can be avoided by taking a proactive approach to your real estate purchase or sale. It takes a lot of time and emotional energy to put together an offer to buy a home. Why go through the process unless you're sure that there aren't any obvious reasons why you shouldn't? For example, there's no excuse for a transaction falling apart because the buyers couldn't get the loan they needed to complete the purchase. Mortgage preapproval can be accomplished within a day or two, and ideally should be done before an offer is made. Preapproved buyers know they are creditworthy and how much they can afford to pay. Sellers should think twice before accepting an offer from buyers...