It’s easy to assume that once you enlist the help of a real estate agent that you’ll be able to rest easy and know that your San Francisco real estate sale will go smoothly. That’s the main reason that an agent is often used – they’re there to guide their clients through the hurdles that often stand in the way and through the confusing, complex process of selling a home.
The Sad Truth
But the sad reality of the situation is that it’s still very possible for your real estate sale to fall apart suddenly. While your agent will want to do their part to help ensure that your sale happens, it’s far more common than most people realize for deals to fall apart.
Sometimes, this is due to the actions of the agent. Other times, it’s due to their inaction. And in some instances, it may just happen because of unforeseen circumstances that just can’t be avoided. But no matter what the specific issue, the outcome is the same – the agent fails to get their commission, and you fail to make the sale you’re counting on.
Common Reasons That A Sale May Fall Apart
There are several reasons that your sale may fall to pieces without warning. Some of the main problems you may face include the following.
- Agent Changes Their Fees – Sometimes, an agent may ask for more than the traditional 5% commission. This may even be part of the contract without you realizing it, and in some cases, it’s enough to bring a sale to a halt.
- Title Issues – This one can come out of nowhere. All of a sudden you discover that there are liens or restrictions that you weren’t aware of. If your agent fails to do the research properly or at least guide you through checking the title, your transaction could falter quickly.
- Failure At Negotiations – Good agents will work to get you to a contract that you can respect. But bad agents may be so poor at contract negotiation that they never even get you an agreement that works best for you.
- Buyers Back Out – This happens more than you might think, most commonly once the inspection contingency occurs. It can scare off buyers or just make them second-guess everything, leaving you without the ability to close on your deal. And sometimes they just get cold feet without warning and leave you high and dry.
- Buyers Can’t Back Up Their Bid – Another common problem is the fact that many buyers – especially first-time buyers – don’t really understand how the process of buying a house works. They make a bid and then suddenly realize that they can’t back it up with actual finances.
What Can You Do?
The truth is there’s only so much that you can do. The best option is to take the time and make sure that you turn to an agent that will work to get you your sale and that really understands what it takes to get results. With a little bit of research and the right ally on your side, the issues above hopefully won’t happen to you.