Tuesday, August 30, 2016

Withdrawal of Offer. Twice In One Month!

The market has definitely changed!

I've been at this for over 14 years. Once, I tell you, only once in that time period did a buyer change their mind after writing an offer. And, that was one of my buyers. She was scared, to death, and it was understandable.

But, in the last month I've had buyers write offers on two different listings of mine and before we even opened escrow, they changed their mind.

Both times I was grateful that it happened before escrow opened and my listing was taken off the market. Having to BOM (put Back On Market) a property is not a great 'marketing' tool.

Second time though? I was really surprised! Was watching TV with my husband late last night and this text came across my phone:

Not what I was expecting while relaxing late at night!

Both times reviewed the entire contract, documents supporting their ability to purchase. Vetted the lender, agent, property they were selling, to buy my listing.

Both times.....I was shocked. Interestingly, both buyers were moving from different areas and practically doubling their homes' value.

Why do I think it's happening? Because buyers are frantic. Inventory is increasing. They choose because they think they have to. Then realize there is something else out there that may suit their needs better. Or, it could be an over-zealous agent as well!

Try not to be that buyer. Try not to present an offer for that buyer. Please don't bring me an offer from that buyer either!

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