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What to Do If a Buyer Rescinds an Offer to Purchase Your Home

by Delray Beach Real Estate Pros 01/28/2019

If a buyer rescinds his or her offer to purchase your house, there is no need to stress. In fact, there are many things you can do to rebound quickly, such as:

1. Address Any Problems with Your Home

Try to find out why a buyer chose to walk away from your residence. That way, you could receive valuable insights into any problems with your home.

For instance, if a buyer discovered myriad home problems during an inspection, you may want to devote time and resources to address these issues. Or, you may want to reduce your house's initial asking price.

You may want to hire home improvement professionals to perform assorted property upgrades as well. By doing so, you can receive comprehensive assistance with home repairs and ensure any property issues are resolved immediately.

2. Promote Your Home to Buyers

A home deal that falls through is not the end of the world. Thus, you should be ready to re-list your house and promote it to buyers. Because if you reenter the housing market, you can move one step closer to selling your home.

As you promote your home to buyers, you should keep your residence looking great both inside and outside. This will help you boost the likelihood that buyers will fall in love with your residence as soon as they see it.

Don't forget to consider the buyer's perspective, too. If you think about why a buyer might choose your home over other available residences, you may be able to highlight your house's distinct features to the right groups of buyers.

3. Consult with a Real Estate Agent

Let's face it – you may feel disappointed and frustrated if a buyer rescinds his or her offer to purchase your house. But if you work with an expert real estate agent, you can get the help you need to streamline the house selling journey.

A real estate agent understands what it takes to sell a house, and he or she is ready to assist you in any way possible. First, a real estate agent will learn about your home and ensure you can promote your residence to the right groups of buyers. He or she next will showcase your residence to prospective buyers and host home showings and open house events. Finally, if a buyer submits an offer to purchase, a real estate agent will help you review the homebuying proposal so you can make an informed decision.

Best of all, a real estate agent can help you minimize stress as you navigate the home selling journey. If you ever have concerns or questions during this journey, a real estate agent will respond to them immediately.

The home selling journey may be complicated, and ultimately, a buyer may choose to rescind his or her offer to purchase your residence. However, if you take advantage of the aforementioned tips, you can stay calm, cool and collected in the face of adversity. And as a result, you may be better equipped than ever before to seamlessly navigate the home selling cycle.

About the Author

Author
Delray Beach Real Estate Pros

With a 18-year track record of exceptional customer service, Diana Byrne specializes in single-family condos, oceanfront homes, golf course communities, and investment properties in Delray Beach, Highland Beach, and Boca Raton. A member of the National Association of Realtors® and the Realtors® Association of the Palm Beaches, she prides herself on knowing the market, providing personalized attention, and handling every phase of the transaction with the utmost professionalism. "Diana is a great Realtor® and I would highly recommend her," comments one of her previous clients online. "She has an extensive knowledge of the local market, immediately honed in on what I was looking for, and negotiated the deal well." Adds another satisfied customer who has already bought two properties through Diana: "She is a very patient, reliable business agent, with excellent ethics." Born and raised in Mansfield, Ohio, Diana graduated from Mount Vernon Nazarene University with a degree in Business Administration and holds a Real Estate Broker License and Realtor License from Florida's Gold Coast School of Real Estate. In 1998, she relocated to Wellington, Florida, and currently resides in Boca Raton, whereas during her off time, she enjoys traveling, reading, tennis, golf, boating, beach activities, and cooking. She also contributes to the community by helping to paint shelters for the disabled and distribute food and clothing for the homeless.