As if selling a home couldn’t be stressful enough as is, sometimes it can become harder to believe that “Sold” sign will ever see the light of day when your buyer backs out at the last second. So, if your buyer or investor backs out, what should you do next? Before you get too discouraged, remember that you always have options. Specifically, follow these three simple steps:
It’s easy to want to quit or put off your selling plans when you’re still determining what went wrong and how to fix it. But rather than waiting or wallowing, it’s important to act decisively and put your house back on the market. Particularly as the season changes, the pool of potential buyers will be changing out and reconsidering their own home priorities, thus giving you an advantage to show your property to some fresh faces. With new buyers looking to get in the game, it’s important that you stay in the game.
Comb Through Your Contract:
If your buyer backs out and you’re not sure what happens next, the answer may already be in writing. Review your contract to see if there are any already-existing clauses or statements detailing what you and your buyer’s responsibilities and duties are in the event that the deal falls through. Moreover, be sure to examine the matter of the buyer’s deposit. You’ll want to find out if it is clear who gets the money in this context (as it very well may be you) and, if it isn’t clear, you need to know whether or not to bring an attorney into the picture.
Strategize and Plan Ahead:
So you’ve decided to keep your house on the market despite the recent setback. That’s fantastic! In that case, be sure to take a moment to consider your strategy. Based on market prices or inflation, should you raise your property price? If your deal fell through due to defects or property damage, should you lower it? Or do you need to approach the market from an entirely different angle this time? Either way, when the wind changes, you adjust your sails. Be sure to have a plan for when you reenter the market and keep other potential buyers on-call as backup buyers… just in case.
Call Us Today! 904.274.4823
How can Freedom Home Buyers help you?
If your buyer fell through, then there’s no need to stress—Freedom Home Buyers is waiting in the wings to help you sell your property. We’ll even cover the cost of your closing without an inspection or appraisal. Call us today to find out how you can sell your house fast for cash!
Call us now @ 904.274.4823
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1605 King Street
Jacksonville, Fl 32204
Who is FREEDOM HOME BUYERS?
Freedom Home Buyers is a local Jacksonville company with the experience in purchasing real estate. We have over 400 successful deals under our belts in the past 4 years. Unlike some "Cash For Houses" businesses, we are an established member of the Jacksonville community. Our office is located in the historic Riverside district @ 1605 King Street. We have a full staff of trained professionals to help you with your real estate needs. We are BBB ACCREDITED. You can rest assured that Freedom Home Buyers can help solve your real estate problems.
* We are not lawyers, nor are we attempting to provide legal advice in any way. Please always seek the advice of qualified legal council if you have questions about real estate or any other legal matter.