Just curious, who is more apt to try and cancel a deal the seller or the buyer?

Asked by jfraccica, Las Vegas, NV Fri Dec 14, 2012

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6
Scott Godzyk, Agent, Manchester, NH
Fri Dec 14, 2012
A buyer most often tries to cancel a deal for various reasons, most often, buyers remorse... The cure is having a great buyer agent who educates them about the buying process and stands by them throughout the buying process.
1 vote
Kevin and Ju…, Agent, Wildomar, CA
Fri Dec 14, 2012
Interesting question... Thankfully we have not had to worry about this problem very often, but I would suspect it would be the buyer in our area more often than the seller. Most properties are short sales...
1 vote
Mark Fleysher, Agent, Las Vegas, NV
Fri Dec 14, 2012
Thanks for your question.

When everything is honestly disclosed up front, you eliminate many possibilities of anyone cancelling.

There are a number of reasons why a Buyer would cancel:

Buyer's Remorse
Low Appraisal
Dissatisfied Inspection or inability for buyer and seller to come to agreement on repairs
Review of Seller Disclosures presents information that dissatisfies the buyer
Review of CIC Resale Package presents information that dissatisfies the buyer



There are also a number of reasons why a seller would cancel a deal:

Low appraisal (not willing to reduce the price)
Inability to come to agreement on repairs after a buyer's inspection
Seller is attempting a short sale and they do not qualify
Seller is attempting a short sale and a lien holder takes title before short sale is complete
Seller changes their mind... could be based on life changing events (e.g., that job they are getting in another state just fell through)
Perhaps the seller is purchasing a property and the sale falls through or the become inelligble to purchase and decide they can't move...
Seller passes away


And I'm sure there are so many other reasons on either the buyer or seller side. Honesty and up-front disclosure are the best policies.


--

Sincerely,

Mark Fleysher, MBA, Broker
Sellstate Deluxe Realty
C. 702-291-8186
http://www.sellstatedeluxe.com
0 votes
Hank Lauzon, Agent, Las Vegas, NV
Fri Dec 14, 2012
Ditto to all the preceding answers........The Buyer.....!!


Sincerely,
Hank Lauzon III
Realtor

Exit Las Vegas Realty Center
6600 W. Charleston #119
Las Vegas, Nv 89146

Cell 702-449-0899
Office 702-949-2409
Fax 702-543-6844

Web : http://www.HanksLVRealestate.com

Email: HankLVRealestate@aol.com

Never look down on anybody...unless you're helping them up.
0 votes
Bill Eckler, Agent, Venice, FL
Fri Dec 14, 2012
I would have to agree that it would seem that buyers are more prone to cancelling a contract than a seller.
0 votes
Joseph Roraff, Agent, Onalaska, WI
Fri Dec 14, 2012
In my opinion it would seem as though the buyer would be more apt to try and cancel a deal than the seller.
0 votes
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