Selling Your House But Buyers Keep Backing Out?
Selling a house is one of the most significant financial transactions that you can make. It can be an exciting process, as you prepare to move on to the next chapter of your life, but it can also be incredibly frustrating, especially when buyers keep backing out of the contract for various reasons.
Once you commit to selling your house, the next step is finding a buyer who agrees to purchase the house for a negotiated price and signs a contract. However, in some cases, the buyer may back out of the contract, leaving the you with a feeling of disappointment, frustration, anger, anxiety and uncertainty.
Why Would A Buyer Back Out Of A Contract?
There are many reasons why buyers may back out of a contract, most of which are beyond the your control. For instance, the buyer may lose their job or experience a change in financial circumstances, making it difficult for them to secure the financing needed to purchase the house. Additionally, the buyer may find a property that they prefer over the one they initially agreed to purchase, or they may simply change their mind about buying a house altogether. The alternative is dealing with a professional home buyer. Never say never, but rarely will you deal with a legitimate professional house buyer that is going to change their mind about a house simply based on emotions. At NOLA Buys Houses we treat everyone with the utmost respect but we don’t make our buying decisions based on emotion. That is why you won’t experience these problems when dealing with us.
Another common reason why buyers may back out of a contract is due to issues that arise during the home inspection. A home inspection is an evaluation of the property’s condition, and it is typically conducted before the sale is finalized. If the home inspection reveals problems with the property, such as a leaky roof or a failing foundation, the buyer may choose to back out of the contract. It can be smaller issues too, not just major ones. This can be incredibly frustrating for the homeowner, as they may have already spent time and money fixing up the house to make it more appealing to potential buyers and now finding out they even more problems. At NOLA Buys Houses we don’t require a home inspection. We can usually determine what repairs are needed in just one visit and then make you a cash offer we can stand behind, ready and eager to close!
Financing Falling Through
Additionally, buyers may back out of a contract if they are unable to secure mortgage financing. This can be due to a variety of factors, including a change in interest rates, a decline in their credit score, or a change in their financial situation. Also if the house does not appraise or fails the inspection process the mortgage company itself will slam the brakes on the deal. You can be left with a feeling of frustration and disappointment, as you have likely already started to plan for the sale of your house, only to have it fall through. At NOLA Buys Houses we have cash on hand ready to buy your house. We don’t need to secure financing which means you don’t need to worry about any of these factors. They don’t apply to us =)
Slooooow Decision Making
The process of selling a house can also be frustrating if the buyer is indecisive or slow to make a decision. For instance, the buyer may take a long time to make an offer, or they may make an offer and then take their time in securing financing. This can be frustrating for the you when you’re eager to move on to the next chapter of your life. At NOLA Buys Houses we are eager to close on your timeline. If it needs to be quick we can close in as little as 7 days. If you need more time, that’s ok too. Whatever works for you works for us too.
Furthermore, the process of selling a house can also be frustrating if the buyer is unreasonable or demanding. For instance, the buyer may request numerous concessions or make unreasonable demands, such as asking for a reduction in the asking price or for you to make extensive repairs to the property. This can be frustrating, and may make you feel like you are being taken advantage of, especially if they have already spent time and money fixing up the house. At NOLA Buys Houses we make our best offer the first time and we stand behind it. There won’t be any back and forth. We determine everything that needs to be done up front so when we make a deal, it’s a deal.
Another source of frustration when you are trying to sell your house is when the closing process is delayed. Closing is the final step in the sale of a house, and it is when the buyer pays the agreed-upon price and you transfers ownership of the property. However, the closing process can sometimes be delayed, due to a variety of factors, such as a delay in the appraisal process or a delay in securing financing. This can be frustrating for a number of reasons but especially if you have already made arrangements to move out of the house, only to have the closing process delayed. At NOLA Buys Houses, we are ready, willing and able to close whenever you are ready. If you need quick, we can do quick. If you need some time, we’ve got you covered.
The process of selling a house can be incredibly frustrating, especially when buyers keep backing out of the contract for various reasons. Whether it is due to a change in their financial situation, issues that arise during the home inspection, an inability to secure financing, general indecision or whatever the case may be, it’s a hassle. If you would like to find out what NOLA can offer you for your house, give us a call at 504 264 1407 and we can talk. There is never any obligation to work with us or accept an offer and even if you just have questions don’t hesitate to give us a call.