Key Realty One, LLC
Gretchen Oberdick, Key Realty One, LLCPhone: (419) 779-6834
Email: [email protected]

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

by Gretchen Oberdick 10/04/2020

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

Gretchen Oberdick

My specializing in helping people to buy and sell lake property for over 20 years is more than a business to me; it's in my blood. I've lived on a lake full time since 1994. As a child, I grew up on Round Lake next to Devil's Lake in Lenawee County water skiing, fishing, swimming and boating. That is why I enjoy sharing my knowledge of the lakes in Branch (Coldwater Lake chain), Hillsdale and Lenawee Counties with both sellers and buyers. I can help with non-lake properties too. I am a multi million $$ producer and take care of every detail for my clients so that they may experience a successful closing with the least amount of stress. In this day in age where the waters can be choppy to navigate with either selling or buying, please let me help you because I live on the lakes, I promote the lakes and I believe in the lakes!