3 Things That Can Dramatically Affect Your Home Sale

If you have to relist your home because your previous
transaction fell out of escrow, there are three things that can
dramatically affect its sale.


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We are in a highly competitive seller’s market right now. The
ball is in the seller’s court, which means that most of the time
they can choose which offer to accept, the closing date to settle
on, and which improvements will be made to the house prior to the
sale. However, it’s important to remember as a seller that you
don’t go too far and cross the line. There are many
factors that can affect the sale of a home while in escrow. For
one thing, interest rates can change and bump the buyer out of
contract. The buyer’s financing may also fall through due to a
financial hardship or a loss of employment. The appraisal could
also not come in as high as the agreed-upon price. All of these
examples are good reasons that sellers and buyers work together
to make sure the sale is completed. Be advised that though the
market is good, inventory levels have risen a little bit. Part of
that can be attributed to the end-of-year holiday cycle, but
buyer demand is still high and sellers can still negotiate the
best deal for them.


A buyer in hand is worth two in the bush.

Should a transaction fall out of escrow, though, there
are three factors that can dramatically affect your ability to
resell your property: 1. Because the property was in escrow
and off the market for two to six weeks, it’s not


considered “fresh” in the eyes of buyers.


2. Statistically, the next offer you get will probably be lower
than your original offer.


3. A new buyer means you have a whole new set of circumstances
and a new inspector
who may recommend different repairs on top of the ones you
already made for the
previous buyer.
Even though we’re in a strong market, we like to remind our
sellers of the following adage: A buyer in hand is worth two in
the bush. Even though the adage doesn’t quite apply, the message
is clear. If you have any questions about things that can affect
your home sale or you have any other real estate needs, don’t
hesitate to reach out to me. I’d be glad to help you.