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

by Paul Ferreira 05/17/2020

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

Paul Ferreira

Luxury Home Specialist (20 years experience) Specialties: Listing Agent, Consulting, Marketing Service My philosophy is simple: My clients come first, I pledge to be in constant communication with you, keeping you fully informed throughout the entire process. Third-generation realtor since 1997. 1,310 Properties Sold and counting. $406,891,007 in closed sales. Consistently ranked among the elite agents across all of RE/MAX (Top 1 %). Always striving to lead the field in research, innovation, education and service. Understanding that buying or selling a property is more than just a transaction:It's a life-changing experience. I take great pride in the relationships I build, always working relentlessly on my client's behalf and strategically helping them achieve their real estate goals. I have spent my life living and learning this business from my mentors, my mother and grandfather, two generations of entrepreneurs who were top producing real estate professionals. Their training was a valuable asset that appears in my results. Real estate brings a culmination of the great interests in my life: strategic theories, mental competitive sports (poker, chess), athletic coaching and marketing (promotional & digital). These interests combined with my experience and enthusiasm produce the results my clients have come to expect while also giving them the winning edge. The National Association of Realtors statistics says 87% of all real estate transactions are done by 13% of the Realtors, Not all Realtors perform at the same level. Want To Know More? I Welcome You To Contact Me 203-209-8111