The Top 9 Reasons Buyers Back Out of a Sale

These are the top nine things that make buyers back out of a sale.

The recent uptick in canceled contracts reveals that buyers with cold feet have begun to actively look for valid ways to terminate their contracts. Also, some buyers currently in a contract are developing a severe case of buyer's remorse. Here are some of the top deal breakers buyers run into: 


1. Appraisal anomalies. These are not an exact science, the value given is just from the lender. Problems do arise. 


2. Foundation flaws. Like our feet, if everything in the foundation is good, everything above is secure. Some minor cracks can be okay—I was told if a nickel can fit into a crack, it needs to be addressed. 


3. Roofing revelations. A leaky roof that does not adequately divert water away from the house can be an issue.



"These issues can be avoided upfront by properly disclosing things."



4. Moldy manifestations. There is confusion about mildew vs. mold. Mildew is easily treated, but mold can be an issue. 


5. Pest predicaments. They can do extensive damage. 


6. Structural shortcomings. Neglect, abuse, or even a structural modification that is not up to code can be an issue. 


7. Water worries. Water can come from leaking roofs, clogged gutters or drains, unsealed windows and doors, and more. 


8. Permit problems. Cellar upgrades that were done without requisite building permits can create issues. 


9. Disclosure dilemmas. Failure to disclose anything can result in a canceled contract. 


Many, if not all, of these issues can be avoided upfront by properly disclosing things. A pre-listing home inspection can identify problem areas before listing, which allows a seller to make repairs and disclose items before they become a reason for a buyer to back out of a sale.


We would love to be your real estate resource through all of this and are ready to help you get your home ready for the real estate market. Give us a call at (717) 695-3177 or send an email to info@joydaniels.com. We hope to hear from you soon!

You Won’t Want To Miss Our 2023 Seller Workshop

Home-sellers, you won’t want to miss our free workshop that’s coming up.

Are you thinking about selling your central Pennsylvania home in the next year? Are you curious about homes being shown in the current market? If your answer is yes to either one of those questions, you should attend our virtual home-selling workshop on February 16 from 6 p.m. to 7:30 p.m. It's called “How To Get Top Dollar During the Upcoming Winter and Spring Home-Selling Markets” and will answer all your selling questions. In this workshop, we will discuss how to prepare your home in today's market. Plus, we’ll have a lender, home inspector, and stager join us to answer your questions. If you have specific questions, submit them in advance so we can try to answer them during the event. Common questions include: Are buyers motivated right now? Are home prices dropping? Is now a good time to sell? What mistakes should I avoid? How do I get rid of my stuff? How do I attract home buyers today? Should I have a pre-inspection done on my home? Can I purchase a home before selling my current one? If you're thinking about selling your home, reserve your spot today. You can do so by clicking this link. Space is limited to 25 people, so don't delay. If you have any questions about the event or real estate, don't hesitate to reach out via phone at (717) 695-3177 or email at info@joydaniels.com. We look forward to hearing from you!