We see this trend change each and every week at REMAX of Valencia’s goSCV/Paris911 team because we are watching all of the current real estate activity in the Santa Clarita Valley Cities.
Resource: Who are the REMAX of Valencia Listing Agents?
These properties that had their escrow cancelled could have happened for a multitude of reasons, some of which you may not have considered.
1 – The property could have an issue that the buyer cannot overcome.
2 – The seller may have refused to repair, credit or discount their property at the request of the buyer.
3 – The homebuyer may have lost their ability to finance the home.
4 – The Valencia homebuyer may have never been approved, the real way, for a home loan in the first place.
5 – The buyer could have changed their mind about buying the home.
There is an investigation period when it comes to buying Santa Clarita – Valencia real estate.
Resource: Search for Valencia – Santa Clarita Homes.
Per contract, that time is typically 17 days. However, we do see that timeframe changing during the offering and counter offering process.
If a buyer finds out something they are not “good” with regarding the home they are buying – they can cancel. Of course, there maybe some ramifications from the home seller toward the home buyer, if they cancel and don’t have a “deposit returning” reason.
Resource: What is your home worth today?
Buyers may get their deposit back and may not. It will depend on how hard their real estate representative is going to fight for them. It also depends on how “bent” the home seller is and how “savvy” their real estate agent is.
Then you have that “contract” thing. If you are a real estate seller that has a buyer that has pulled out of the deal and you want to know what you can do to enforce your rights, depend on your real estate consultant, the one you hired to sell your home.
If you are a real estate buyer and want to pull out, you are going to have to get the best advice and that should come from your Realtor.
Resource: Read the REMAX of Valencia Past Articles.
However, in either case never forget: “Anyone can sue anybody for anything…”
We have never lost a buyer’s deposit since we started in the real estate business in 1998. (knocking on wood)
We don’t plan on it. We explain every aspect to our Santa Clarita – Valencia real estate sellers and buyers so they are made aware of how real estate transactions cancel and what their rights are reference to that issue.
Thanks for taking the time to listen to our REMAX of Valencia Broadcast. Make sure you reach out to me, Connor MacIvor, when you are ready to move and I’ll be here for you.