Not a nice situation to find yourself in for sure. I would agree with other agents' replies that you can ask but you might not get buyer to agree to a non-refundable deposit. Lots of good suggestions below about trying to negotiate different approaches. We don't know all of your details so might miss some important points or issues. Did they do the inspection, for example. If so, what were the issues? You definitely need a good professional on your side, which you may have. Just get your home back on the market as quickly as possible and take any steps to make repairs if needed. Look at it this way, you may have let go of a non-performing buyer anyway. Buyers who change their mind will generally find a way to get out of the transaction. Consider yourself fortunate to have found out early that this wasn't perhaps the best buyer for you or anyone.

Leshined,

I am sorry for your frustrations but I have to say congratulations on getting the two offers, many Sellers are happy to just have one!

You can ask for a non-refundable deposit but in this Buyer's market you'll get push back and people will most likely move on.

The first thing I would do is to fix the problems that made the Buyers walk away from the deal if they were from inspections. And if the Buyer walked away due to the mortgage contingency then you need to look at the next Buyer's financials closer to determine if they can truly afford the home and they are getting their mortgage from a reputable lender.

Another part of the Agreement you can strengthen is the inspection contingency option. You can ask the Buyer to select Option 2 with zero dollars. This ensures that they must negotiate with you after inspections and not just walk away over anything. They can still ask you to repair absolutely everything but at least they are giving you the choice and not just walking away from the deal.

Other than that you could ask for more earnest money, a larger rate spread on the mortgage contingency, or less time to finish inspections to strengthen the deal as well.

One thing that will save you a lot of headaches later is not accepting a weak offer that is easy for the Buyer to walk away from. Put yourself in their shoes and ask yourself if you wouldn't mind walking away.

Best of luck and if you are selling the home yourself feel free to contact me for help!
Krista Fuchs, Realtor
Prudential Fox & Roach
Office 484-875-2600
Cell 484-459-8025

The short answer is YES. But, your contract must specifically address this matter. I've done this many times in the past when I didn't feel the buyer was qualified, but I didn't have any other buyers waiting in the shadows.

Remember, the parties to a contract can and should change the standard language of any contract form to meet the needs of the parties. And the more a buyer has to lose if they walk, the less likely they will walk.

Guy Gimenez
Broker / Owner
The PowerHouse Group
512-731-5613
guy@phgbrokers.com

Sorry...I just saw that I had a typo in my initial response......it should have said: "Buyers cannot back out WITHOUT a contractual right to do." Indeed, without a contractual RIGHT to walk away, a buyer will lose his/her deposit money.

I certainly hope that the advice you've received below helps you to see your homesale through to settlement the next time an offer comes in. If you are trying to sell your home on your own, I HIGHLY recommend that you consider hiring a Realtor to represent your interests. Without a doubt, a Realtor will save you stress, time -- and, yes, in the long run -- MONEY, too!

Good luck!:)

Warmly,
Judy

Judy May, Esquire, REALTOR
"A Refreshingly Different Real Estate Experience" http://www.JudysFineHomes.com
Judy.May@Century21.com
O: 610.666.0202 x. 226
C: 610.324.5240

First, in my book, all deposits are refundable unless the buyer wants to back out for no reason at all or if it's late in the game. Also, it is between you and your agent if you want to take the home off the market. I will usually keep the home Active with contingencies until the inspections and responses are completed, then I'll put the home as pending if that's what my seller wants. Now if the buyer "demands" that the home be taken off the market right away, then you should respond by saying that the deposit will be non-refundable. How that would be split or not with your broker would be between you and them.

Good Morning Leshined,

Sorry to hear about your frustrating experiences. It is very unusual to seek a non-refundable deposit on your home. In fact I don't know that I have every seen that. There are contigencies in the agreement of sale that would allow a buyer to back out of an agreement of sale which include home inspections, home owner's insurance and mortgages. You do not mention why the two buyers backed out of the deal however remember that everyone must be within their time frames for these contigencies. Additionally if it was due to the home inspection you as the seller are entitled to a copy of that inspection report. I would look at that report and make the necessary repairs as they will continue to be an issue. If it is a mortgage contingency causing the problem your agent should alert you to any red flags concerning the pre-approval for a mortgage. No offer should ever be accepted without a good pre-approval from a reputable direct lender. If you are selling your home on your own this very well could be the issue. There are many ins and outs on the agreement of sales and if you do not deal with them on a regular basis it is very easy to overlook issues that could cause later problems.

If you are interested feel free to contact me at 610-999-7693 and I'd be happy to go over what may be the problem...if you are not represented by a Realtor. Perhaps together we can find a way to allieviate this problem in the future.

Jennifer Daywalt, Realtor
Re/Max Results Realty
Top Agent 2004, 2005, 2006, 2007, 2008
Author of "Ask The Realtor" every Saturday in The Phoenix Newspaper
610-999-7693 Direct
610-489-7355 Main Office http://www.JenniferDaywalt.com
Sellinghomesjenn@aol.com

Hi Leshined. I'm sorry to hear about your trouble with selling your home.

As a lawyer (as well as a Realtor), I can tell you that the place you protect your interests is in the Agreement of Sale. (My clients -- whether sellers or buyers -- particularly appreciate my contract/legal knowledge.....I approach contracts with a unique insight from other Realtors.)

Buyers cannot back out with a contractual right to do so. What were the reasons two buyers did so? If there is an inspection issue, you would be advised to take care of it before another offer comes in (indeed, if two buyers noted the same issue and that issue allowed them to walk away, it is unlikely ANY buyer wouldn't share the same objection.)

As far as what buyers have "demanded" in the past...two thoughts. First, perhaps include a provision in the contract related to this issue. Second, discuss this issue with your Realtor for her/his advice. (If you're selling your home on your own, you're experiencing the frustration that typically comes with doing so....Realtors CAN save you money, time -- and stress! )

I hope this is helpful. Please feel free to call me at (610) 324-5240 if I can be of any further assistance.

Good luck and blessings to you............

Warmly,
Judy

Judy May, Esquire, REALTOR
"A Refreshingly Different Real Estate Experience" http://www.JudysFineHomes.com
Judy.May@Century21.com

CENTURY 21 Alliance
2828 Audubon Village Dr
Audubon PA 19403
O: (610) 666-0202 x. 226
C: (610) 324-5240 (preferred)
F: (610) 666-1942

Search 1000s of available homes!
http://judysfinehomes.com/homesrch.htm

Leshined it is very unusual to ask for a non-refundable deposit it can be done, but as there are so many homes on the market this may scare buyers away from your property and they will simply go elsewhere. The agreement of sale is designed to protect buyer and seller although it does seem to lean towards the buyer.

As you mention that two offers have fallen through and without knowing why you have some options.

1) If it was for inspection reasons, you can have your own inspection done and fix anything that arises and then attach this inspection form to your sellers disclosure.

2) You can ask for all inspections to be carried out before an offer is made, this helps in two ways. It removes a second round of negotiation after a price is agreed and the buyer is aware of any issues that might arise. However, again as most sellers don't require this it may push buyers away to another property.
3) If the offers fell through because of inspections you can ask for the inspection reports and fix any issues and attach as if it was your own report.

If the offers fell through not because of inspection reports, then get your agent to state this in the MLS description somehow.

Yes, you can ask for that, but it's not the norm, so expect siginificant push back from a buyer. Since you didn't mention why the buyers backed out, it's hard to provide any further comments; however be aware that a buyer's agent may see that your house was under contract(s), previously, and assume that the deal fell through due to inspections. This could even make your "ask" seem suspicious to the buyer if you follow my logic. If you wish to provide additional information regarding the reason for termination, then those of us, here, may have additional thoughts, but I don't want to speculate in a vacuum. Good luck.