Dealing with a Buyer Who Can’t Close

Selling a home can be a rollercoaster of emotions and logistics. You’ve invested time, money, and energy into preparing your property, and finally, a buyer comes along. You breathe a sigh of relief, sign the contract, and start planning your next steps. But what happens when the buyer falls through or starts asking for discounts? It can be incredibly frustrating and disheartening. Here’s what you can do if you find yourself in this situation.

Why Buyers Fall Through

There are several reasons why a buyer might back out of a deal. Sometimes, it’s due to financing issues – they might not get the mortgage approval they were counting on. Other times, it’s because of unexpected personal issues, like a job loss or a family emergency. In some cases, the buyer might find another property they like better or simply get cold feet. The worst case scenario is that you are dealing with a dishonest buyer who never intended to close at their asking price — they intentionally offered more to secure a contract and pull your listing off the market. It is an unethical practice, but unfortunately does happen.

Why Buyers Ask for Discounts

Buyers may start asking for discounts for various reasons, often after a home inspection reveals issues they weren’t aware of. They might also request a lower price if they feel the market conditions have changed since they made their offer. Regardless of the reason, these requests can put you in a difficult position, especially if you’re relying on the sale to move forward with your own plans. At Applegate Home Buyers, we step in to help sellers in the situation on a daily basis. Often they have gone under contract with a nationwide buyer like Opendoor and now find themselves torn between starting the process over or taking significantly less money than they were promised — don’t fall for this! Call us at (480) 660-4329 to learn out about your third option: Applegate Home Buyers.

What to Do Next

  1. Review the Contract: Carefully review the contract terms. Some contracts have contingencies that allow buyers to back out under specific conditions. Understanding your legal standing can help you decide your next steps.
  2. Negotiate: If the buyer is asking for a discount, consider negotiating. Assess whether their requests are reasonable and whether you’re willing to make concessions. Sometimes, a small discount can keep the deal alive.
  3. Seek Legal Advice: If you’re unsure about your rights or how to proceed, consult with a real estate attorney. They can provide guidance based on your specific situation and help you protect your interests.
  4. Relist Your Property: If the deal falls through entirely, don’t lose hope. Relist your property as soon as possible to attract new buyers. Make any necessary repairs or updates that might have been highlighted during the inspection to improve your chances of a smooth sale next time.
  5. Or… Just Contact Applegate Home Buyers! Call us at (480) 660-4329 and we can review your current contract, prepare our own competitive offer, and also give you advice on how to remedy your situation with the current buyer.

Why Choose Applegate Home Buyers

Dealing with uncertain buyers can be stressful and time-consuming. That’s where Applegate Home Buyers comes in. We stand by our word and offer a fair, no-strings-attached cash offer for your property. Here’s why you should consider us:

  • Reliable and Trustworthy: We honor our offers and follow through on our commitments. When we make an offer, you can count on it.
  • Hassle-Free Process: Avoid the lengthy process of listing your home, dealing with showings, and waiting for a buyer to secure financing.
  • Fair Cash Offers: We provide fair cash offers based on the current market value of your property. No lowballing, no hidden fees.
  • Quick Closing: We can close on your timeline, often within days. This means you get your cash fast and can move forward with your plans without delay.

When a buyer falls through or starts asking for discounts, it’s important to stay calm and explore your options. Remember, selling your home doesn’t have to be a stressful experience. At Applegate Home Buyers, we’re here to offer you a straightforward, fair cash offer that will actually go through. Contact us today to learn more about how we can help you sell your home quickly and with confidence.