Often, the reasons buyers give when they cancel an escrow are generally not the real reasons they no longer want to buy a home in, say, Elk Grove. They get cold feet. They freak out over having to pay a mortgage. They question their own convictions at times. The most recent excuses I received from a buyer's agent were the buyer wanted the seller to further complete the buyer's inspections, to do the buyer's own due diligence. The seller is not required to order additional reports and pay for them to satisfy a buyer's curiosity.
The buyer also asked the seller to replace the fence. What? The buyer couldn't see the fence with his own two eyes when he made the offer? It is very unusual for a seller to replace a fence in Elk Grove (or Sacramento for that matter), especially when it's essentially in good condition. Sounds like the buyer changed his mind. Hard to say.
But there is a benefit to all of this. Several BIG benefits to the seller to quickly sign the cancellation. You can read more about this in my personal blog today at this link: The Upside When FHA Buyers Cancel the Escrow.
Certified HAFA Specialist
Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.
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Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.