Quote:
Originally Posted by FleetsidePaul
Not wishing any bad mojo on you but I had 3 buyers back out on me on the sale of my last place.
I got the impression that the buyers would put in a offer on my house and I would accept it. Then they would keep looking for another place and dump me if they found one. It didn't cost them anything. It just cost me time. I finally got disgusted and took it off the market. Then sold it 2 years later for more money. 
I doubt that will happen now with the housing market being what it is today. It wasn't like that when I was selling. |
It's a real concern. Especially given the fact that when a house returns on market after it's been under contract, regardless of the reason, it is often much harder to sell.
These cancelled sale scenarios happen around here an awful lot, so much in fact that we were ready to not accept bids/offers from the type of buyers that seem to be doing most of the backing out. The sense is that these buyers are going into multiple contracts without regard for the damage they are doing to the sellers. We were fully prepared to deal with this but, alas, we didn't have to deploy our anti-get-F***** countermeasures! LOL. The big offer scared me off for a number of reasons, chief among them were this issue of getting tossed like bait-fish back into the sea just before closing.
We ended up with 7 offers, only one of which was at asking price. The largest was 50k over asking next 35k over and the rest were 30k, 30k, 20k and 17k over. The big offer was also all cash but from an unknown agent and our agent had zero contact with him other than a few texts about how high the offer needed to be and then his client's offer. We simply negotiated up on one of the lower offers because we liked the family ( this family was one of two that wrote us a "love" letter and included pics of themselves ), they had been in constant contact with our agent throughout the entire period and they had proof of a lot of funds going into their down payment of nearly 50%. These buyers seem to be solid.
Only time will tell now.
-klb