Why Are So Many Contracts Being Cancelled?
Posted by Eric Peterson on
A record number of real estate contracts were canceled in July.
This year we had 2 contracts terminated, but in both cases, the buyers came back around and we put the deal together. I suppose that was like getting divorced, finding out you can’t do any better, and then getting re-married to your ex.
I’m going to consider us undefeated this year. Don’t jinx us!
Why are so many contracts being canceled? There are several reasons…
1. Buyers are taking in more and more information and getting advice from their family and friends.
- I heard a story from a home seller that their home was under contract. Then the buyers’ parents came to visit and told the buyers they shouldn’t buy the home. The buyers cancelled the contract.
- Given all the…
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