Common Reasons an Offer to Buy Falls Through

Common Reasons an Offer to Buy Falls Through


If you are ready to buy a home, there are many things to do to prepare for home ownership before you begin to search. Saving for a down payment or lining up a mortgage loan are two large hurdles best to face first, giving you the standard purchase power you need to make an offer that can be accepted. With a sizable down payment, you effectively lower what your mortgage will be. With a pre-approved loan, you know how much of a mortgage you qualify for, and just how much house you can buy. There are other aspects of the home buying process to consider which can lead to an offer on a property falling through. But with some planning ahead, you can avoid these possible pitfalls.

As you begin searching for the home of your dreams, keep in touch with your credit score. These scores change often, and you need to know just where your score is to be sure you remain eligible for the mortgage loan you applied for. A significant change in your credit score could negate your loan before you get to sign the closing documents. To keep this from being a deal breaker, watch your score weekly while you are in the process of searching for and buying a home. Don’t make any major purchases like a new car or kitchen appliances. This can change your debt to income ratio. It may sound strange, but closing a credit account at this time could also altar your debt to credit ratio which could harm your qualification for a home loan. Pay off debt after you close on your home.

Another financial decision to make is how much of a funding cushion can you build before you start looking for a home? While you may have a great down payment saved and find a loan with incredible rates, there can unexpected costs that come into play during the process of buying a home. If the property you want is part of a Home Owner’s Association, there will be additional fees to pay. If you close on your offer close to the deadline for property taxes being due, you may be required to pay the balance due upfront. Before you make an offer, have a reserve of funding available to cover financial surprises. Having an additional reserve of money will come in handy once you have key in hand and you begin the real work of making your new property your home.

Home inspections are a resource for buyers to have in hand prior to finalizing a deal. Sometimes the results can scare a buyer away from the home of their dreams. But dreams are not always dashed when a problem is exposed with an inspection. Instead, an issue can become a great negotiation tool. If a needed repair is discovered, there is a good chance the seller will agree to fix the problem. Take advantage of your home inspection to help you save time and money; don’t let a repairable problem push you away. The same applies to small problems or concerns. As a buyer, you can request cosmetic repairs to be done by the seller, but they have the right to refuse to pay for them. You may want to have the newly updated appliances included in the sale, while the seller wants to take the stove and dishwasher with them. These are points of negotiation that can cause frustration on both sides. Keep this in mind as you go through the process. If you experience a seller who doesn’t want to concede to some of your requests, take some time to determine if you can live without something, or with something as the case may be. The bigger picture is getting the home you want. You may not like the way the trim was painted, but do you have to insist the seller paint over it? If you push back too much, you may lose your offer. 

By keeping these situations in mind, you can help keep your offer for a home on track. I am proud to be able to make the real estate process move smoothly for my clients, and I am here to help with all of your real estate needs. If you’re looking for a warm and engaging professional to help you with the purchase or sale of your home, contact me today at 407-234-5313 or by email:



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Jeff Royle

Royle Realty Group

1404 E. Concord St.
Orlando  Florida 32803


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Last updated on Apr 26, 2017: 12:41 AM.