Jayne;

Lots of homes actually getting sales and than falling apart due to financing. Get a good broker. You would not try and rebuild your own engine would you? Would you take a scalpal and cut out a tumor?? No.

You either need to offer one a good value before they go "pending" or swoop in when they go BOMK (Back On Market). A seller is never more ready to deal than the day after a sale fail. In our Market we are seeing about 30% of all deals blow up for a wide myriad of reasons.

A Good broker can help find you the best values and help you to make sure no stone is left unturned.

I would get after this. The values are great but the financing is getting tougher and tougher and rates are going to rise.

Let me know if I or my Award Winning Team can put our 25 years of experience to work for you.

Best Wishes;

Dirk Knudsen
ReMax Hall of Fame
#1 Rated ReMax team in oregon
503-799-8383

Hi Jayne - there are a number of reasons why a pending sale dies, but buyer's financing failing seems to be one that I'm seeing more and more. I have a couple of different buyers that I'm working with where we just cancelled pending sales this past week......one was because we couldn't reach an agreement regarding some repairs that came up in the home inspection, and the other sale was cancelled when we learned that the property was in a high risk flood zone. Those are 2 less likely scenarios to kill a pending sale though. I also had another buyer I was working with and thought we had found the perfect home - only to learn that 3 offers had already come in. The seller accepted one in 1st position and one in 2nd position. After about 45 days of having a sale pending - that home popped up back on the market. In both instances of the prior pending sales, buyer's financing would not go through. We were the first in the door when it became available again and first to get on offer on the table with another offer quickly following ours. Our offer was accepted in first position and the other in 2nd position. Because we were fully approved for our loan prior to starting the house hunting process - we had no glitches come up and I gave them their keys to their new home on Thursday.

If you have a home that you really like but it has a sale pending - definitely have your Realtor keep an eye on the hotsheets for it to pop back up as well as have him/her keep in close communication with the listing agent. Your Realtor should have access to the info on this home faster than pretty much anything a consumer would have access to.....and then you need to be ready to jump and act quickly if it becomes available again. And - if you haven't already done so...definitely get your loan approval process started so that you can be sure not to get beat out again.

Best of Luck!

Kelly Gebler
Real Estate Broker & Loan Officer
Commonwealth Real Estate & DeMark Financial Services
415 17th Street, Suites 5-7
Located at the Historic Hackett House
Oregon City, OR 97045
503-516-1637

You can always submit a back up offer on any property so IF the closing falls thru you are next in line.
http://www.lynn911.com http://www.homes-for-sale-dallas.com

Financing not being in proper order is one reason a contract would not complete. Another could be that the buyer(s) and seller(s) could not come to terms after the inspection notice had been delivered. There is a prescribed period after inspections during which neither party may withdraw unless both parties agree mutually to withdraw. Sometimes that happens. Sometimes one party neglects to meet a deadline and the contract is no longer valid. Sometimes one party does that on purpose for reasons of their own. There may be life events we are unaware of that caused one party to change their plans about purchasing or selling. When that happens, one party may sue the other to perform in a court of law. A court of law may order the party in breach to perform although this is an expensive and time-intensive endeavor. In the case of life changes, even mind changes, the seller or buyer may just let the other walk away. (I believe in the inherent good nature of my fellow human beings)
As far as making an offer on a property which has a contract pending...I'm glad you have a buyer's agent representing you. You will need their advice and opinion to make a competitive offer. Why would you wait a month to make an offer on a property you know you want? As for contacting the listing agent yourself, rather than allowing your agent to do what they do, most people jeopardize their own position without ever realizing it when dealing with the agent representing the seller(s). Do I ever mention this to my friends who tell me what they've done after the fact? No, they don't want to hear it. Nod & smile; nod & smile.