Home buyers getting cold feet when buying real estate

    When wanting to buy a home, condo and or townhome, it’s a big deal. I have not forgotten my first time and the time when Paris and I were taken advantage of by the real estate agent we chose.

    It was a bad choice – However, in the end – it worked itself out.

    We became Realtors due to the issues we encountered and wanted to make sure any of our future clients never experienced the sins we were hit with.

    Today, sellers don’t get the full intel from those whom they hire to represent them in the sale of their real estate.

    Racing to Escrow Finish Line
    Will the Buyers make it to the Finish Line?

    Same with home buyers, they are not getting the “full monty” when it comes to adequate and sustainable real estate representation and knowledge.

    Buyers get cold feet. Buyers cancel escrow, buyers change their minds.

    OMT – before I get into the meat of the article, it maybe that the buyer did not get cold feet. It could be they became unqualified or were not qualified to buy your home in the first place. It happens, more often than it should. A lender saying “good as gold” without viewing and inputting all of the clients information into the computer to get the “real” approval.

    All sellers need to know this, it happens. There are ways in which we can “attempt” to keep the buyers interested, however – in the end – it will be a buyer’s decision.

    Some real estate agents will use “tricks or deceit” in their “attempt” to keep their commission in play with the real estate buyer, by keeping the transaction alive. This is bad form and unethical. The real estate agent should be upfront with their home buyers and let them know if they want to cancel, it’s their right.

    Some sellers may have issue with my advice. However, in the end – the buyer is going to cancel if they want to cancel. Any unsolicited and misleading attempts to keep the buyer in play, is only going to lead to a delaying of the cancellation process. Which may equate to other potential buyers being lost by the seller.

    One of the most “famous” questions, we get from buyers wanting to cancel escrow, is if they will get their deposit back.

    We get the same question from the home sellers, but theirs is pertaining to getting to keep the buyers deposit if they cancel.

    The answer to both of these questions is “it depends”. It depends on what documents the buyers have signed about the “removal of contingencies”. If they have been removed during the escrow process, then their deposit may become property of the seller if the buyer cancels.

    Real Estate advice is thrown around as if anyone can do it. Real Estate agents are a dime a dozen. Good Realtors are Rare Indeed.

    Thanks for checking out our SCV661.com site where we have over 10,000 real estate articles penned by yours truly over the past decade plus! When you are ready – reach out to me and I’ll be your real estate representative. My BEST

     

     

     

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.
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