{"id":3376,"date":"2022-08-08T14:52:50","date_gmt":"2022-08-08T14:52:50","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2022\/08\/08\/revive-those-dead-real-estate-deals\/"},"modified":"2025-03-13T02:44:57","modified_gmt":"2025-03-13T02:44:57","slug":"revive-those-dead-real-estate-deals","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2022\/08\/08\/revive-those-dead-real-estate-deals\/","title":{"rendered":"Revive those dead real estate deals"},"content":{"rendered":"\n<p>It&#8217;s frustrating. Your buyer or seller gets cold feet, or struggles with financing, leading to a \u201cdead deal.\u201d&nbsp;In today&#8217;s market, with quickly rising interest rates, some agents are finding themselves with this unfortunate situation more often than usual. <\/p>\n\n\n\n<p>Don&#8217;t fret. There are ways to turn lemons into lemonade. Read on to find out what to do when a dead deal happens to you.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-why-do-deals-fall-through\"><strong>Why do deals fall through?<\/strong><\/h4>\n\n\n\n<p id=\"h-deals-fall-through-for-several-reasons-including-the-following\">Deals fall through for several reasons including the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Issues are found during inspection:<\/strong> A home inspection may reveal issues with the property causing the buyer to back out.&nbsp;<\/li><li><strong>The financing isn\u2019t approved:<\/strong> Financing can fall through if the buyer doesn\u2019t get approved for the loan, especially when interest rates rise and price them out of the market.<\/li><li><strong>The home is doesn&#8217;t appraise where it needs to<\/strong>: A home appraisal may reveal that the home isn\u2019t worth what the buyer offered to pay causing them to change their mind.&nbsp;<\/li><li><strong>The buyer can\u2019t sell their home<\/strong>: Some deals have a <a href=\"https:\/\/www.movoto.com\/blog\/making-an-offer-on-a-contingent-home\/\">home sale contingency<\/a> meaning the buyer will only take the house if they can <a href=\"https:\/\/www.realtrends.com\/blog\/articles\/power-buyers-impact-on-the-real-estate-industry\/\" target=\"_blank\" rel=\"noreferrer noopener\">sell their existing home<\/a>. If they can\u2019t sell, it can kill the deal.<\/li><li><strong>The parties back out:<\/strong> Parties could decide they no longer want to buy or sell for any reason. If one party backs out, the other can sue for damages.<\/li><li><strong>Issues with a seller\u2019s <a href=\"https:\/\/www.movoto.com\/blog\/property-title-review\/\">title<\/a><\/strong>: There could be issues with the seller\u2019s title due to liens against the property causing the buyer to back out of the deal.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-why-deals-might-fall-through-as-the-market-tightens\"><strong>Why deals might fall through as the market tightens<\/strong>&nbsp;<\/h4>\n\n\n\n<p>In today\u2019s real estate climate, we may be seeing more buyers backing off. Mortgage rates have been fluctuating and&nbsp; If buyers aren\u2019t locked in for a mortgage rate, they may end up being quoted a rate that\u2019s higher than they expected and decide not to go through with the deal.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-what-should-i-do-to-revive-a-transaction\"><strong>What should I do to revive a transaction? <\/strong>&nbsp;<\/h4>\n\n\n\n<p>There are certain things you can do to save a deal before it falls through. Here are some solutions.&nbsp;<\/p>\n\n\n\n<p><strong>Appraisal or inspection issues<\/strong><\/p>\n\n\n\n<p>If the deal is in danger due to issues found during inspection or a discrepancy in price during the appraisal process, you can renegotiate the deal, rather than lose it completely. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; ]&nbsp;<\/p>\n\n\n\n<p><strong>Liens on the title<\/strong>&nbsp;<\/p>\n\n\n\n<p>If there are liens on the title, you can make them go away by having the seller pay the liens. The lien might also be covered under a title insurance policy.&nbsp;<\/p>\n\n\n\n<p><strong>Financing falls through<\/strong><\/p>\n\n\n\n<p>There\u2019s little you can do if the buyer\u2019s financing falls through, but if something like this occurs, it\u2019s essential to get the home back on the market as soon as possible.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Agents can also work out backup plans by keeping prospective buyers in the wings. That way, if a deal falls through, they can contact someone else who previously showed interest.&nbsp;<\/p>\n\n\n\n<p>Most agents won\u2019t take the home off the market until the appraisal and inspection has been completed so they can continue to show it to interested buyers and further build their list of prospects.&nbsp;&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-how-to-prevent-deals-from-dying\"><strong>How to prevent deals from dying<\/strong>&nbsp;<\/h4>\n\n\n\n<p>If you take the right steps, you can prevent deals from dying in the first place. These include the following:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Work with buyers that are <a href=\"https:\/\/www.movoto.com\/foundation\/what-documents-are-required-for-the-mortgage-pre-approval-process\/\">preapproved<\/a>. This reduces the chances that the financing will fall through<\/li><li>Get a pre-listing home inspection. This will prevent surprises during the inspection process.<\/li><li>Get title insurance. This will cover you if there are any liens on the title.<\/li><li>Make sure the house is close to the comps in the area to prevent appraisal issues.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-contingency-planning\"><strong>Contingency planning <\/strong>&nbsp;<\/h4>\n\n\n\n<p>If all of these methods do not save the deal, then it\u2019s important to go through your client list to find other prospective buyers or sellers who might be a good match for the property. With home inspections details and comps ready to go, you will cut down on the major obstacle, especially for buyers.&nbsp;&nbsp;If your existing clientele is not a match, look to <a href=\"https:\/\/www.agentadvice.com\/real-estate-lead-generation-ideas\/\">lead generation<\/a> sources and filter by most active.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In today\u2019s climate, with the market tightening up, agents may experience a buyer or seller getting cold feet, or struggling with financing, leading to a what\u2019s known as a \u201cdead deal.\u201d\u00a0 Some agents are finding themselves with this unfortunate bit of bad luck more often than usual. But there are ways to turn lemons into lemonade. Read on to find out what to do when a dead deal happens to you.\u00a0<\/p>\n","protected":false},"author":39478,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[2643],"class_list":["post-3376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Revive those dead real estate deals - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"Got a real estate dead deal where the buyer got cold feet, or struggled with financing? 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