Buyer’s Cold Feet
One of the most common reasons a buyer backs out is they get cold feet. Buying a home can be overwhelming for any homebuyer.
Aside from the emotional journey that they go through while choosing a home, it is also time-consuming. From going to several open houses to finishing the paperwork, buying a home is no easy feat.
On top of that, it’s a major investment! Most likely the biggest investment they will make in their lives.
That comes with a great deal of pressure and commitment. A buyer may realize that they’re not ready to make a decades-long financial commitment.
Home Inspection Calls for Improvements
A real estate transaction may fall through because of unexpected expenses, even with qualified homebuyers.
Aside from the mortgages, there may be several repairs required for the property. This realization usually happens after the home inspection. A home inspector’s job is to examine and check every square …