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There’s a house on my street for sale going on 3 months, it went pending twice. In the description they have “Back on the market, previous buyers couldn’t secure funding”. Not sure how I feel about that….
Run from any "back on the market" home, especially one that has been back on the market multiple times.
"Back on market at no fault of the seller!" normally translates to "House failed inspection and seller refused to address problems. Buyer chose to back out, so it's not the fault of the seller."
In my state, the seller does not have to legally disclose the reason a buyer backed out. I have only heard "Couldn't secure financing." as the reasoning. It would be amazing if agents were more forthcoming.
This happened to my brother, who got nearly all the way to closing before they discovered an open permit for the pool in the backyard. It was built in the wrong location and needed to be torn up. Seller refused to handle the problem. Want to guess what the listing said? "Back on the market at no fault of the seller!"
Run from any "back on the market" home, especially one that has been back on the market multiple times.
"Back on market at no fault of the seller!" normally translates to "House failed inspection and seller refused to address problems. Buyer chose to back out, so it's not the fault of the seller."
In my state, the seller does not have to legally disclose the reason a buyer backed out. I have only heard "Couldn't secure financing." as the reasoning. It would be amazing if agents were more forthcoming.
This happened to my brother, who got nearly all the way to closing before they discovered an open permit for the pool in the backyard. It was built in the wrong location and needed to be torn up. Seller refused to handle the problem. Want to guess what the listing said? "Back on the market at no fault of the seller!"
Agents can be real scum.
I'm in a "back on the market" house. 19 years. No fault of the sellers. Buyer got cold feet the day before closing.
In a low inventory, high demand market, Buyers need to consider all opportunities and explore. and investigate.
Does anyone actually read property descriptions? I look at price, bedroom/bathroom, square footage, property taxes and pictures. I can get the descriptive part on an open house visit. I usually just scroll right past the description (Redfin has those just below the pics) to the property specs.
The most overused word in real estate has to be 'Character'. Define 'character'.
Does anyone actually read property descriptions? I look at price, bedroom/bathroom, square footage, property taxes and pictures. I can get the descriptive part on an open house visit. I usually just scroll right past the description (Redfin has those just below the pics) to the property specs.
The most overused word in real estate has to be 'Character'. Define 'character'.
Yes. I read the Remarks.
They often include valuable information regarding when the sellers want to close, rent-backs, condition compromises, etc.
I think most of my buyers do, too, because they will quote them and comment or ask questions.
“a little elbow grease and imagination” is replacing fixer-upper, putting the onus on the buyer. It’s only their lack of hard work and vision holding them back.
Same with "All the hard work has been done for you!!"
Because ripping walls down is so much harder and more expensive than replacing what just went into the dumpster
Run from any "back on the market" home, especially one that has been back on the market multiple times.
"Back on market at no fault of the seller!" normally translates to "House failed inspection and seller refused to address problems. Buyer chose to back out, so it's not the fault of the seller."
In my state, the seller does not have to legally disclose the reason a buyer backed out. I have only heard "Couldn't secure financing." as the reasoning. It would be amazing if agents were more forthcoming.
This happened to my brother, who got nearly all the way to closing before they discovered an open permit for the pool in the backyard. It was built in the wrong location and needed to be torn up. Seller refused to handle the problem. Want to guess what the listing said? "Back on the market at no fault of the seller!"
Agents can be real scum.
Yeah, I agree…..something is up with this house. Looks like a nice house from the street. But who knows. In Arizona, inspection must be done within 10 days of offer. Around day 15 after pending, the house goes back up for sale. It did this twice! I’m thinking the sellers are refusing to address something showing up on inspection.
Ever heard Cute, cute, cute! ? This one makes me cringe, thinking that the house must be pretty awful if the agent can't come up with a better description.
Run from any "back on the market" home, especially one that has been back on the market multiple times.
"Back on market at no fault of the seller!" normally translates to "House failed inspection and seller refused to address problems. Buyer chose to back out, so it's not the fault of the seller."
In my state, the seller does not have to legally disclose the reason a buyer backed out. I have only heard "Couldn't secure financing." as the reasoning. It would be amazing if agents were more forthcoming.
This happened to my brother, who got nearly all the way to closing before they discovered an open permit for the pool in the backyard. It was built in the wrong location and needed to be torn up. Seller refused to handle the problem. Want to guess what the listing said? "Back on the market at no fault of the seller!"
Agents can be real scum.
Lots of people change their mind or fail to qualify for their financing, at no fault to the seller (or the house)
Even some houses that come back because of inspection issues might be just fine for a different buyer with a bigger budget or better aptitude for the kind of repairs it needs.
Every buyer needs to do their own due diligence whether it's "back on market", or not.
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