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Expert Tips for Home Buyers & Sellers

The mission of The Star Team at Bluewater Real Estate is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Tackling Tricky Scenarios in the Real Estate Process


To what extent are buyers and sellers obligated to move forward with a deal after an offer has been accepted? Find out that and more right here.


Things can get tricky between making an offer and closing a deal. Today I'll present some real-life scenarios that show what can happen.

Getting swept up in the frenzy of buying or selling a home is easy. After the honeymoon phase comes that awkward stage between agreeing on a deal and reaching the closing table. You might encounter many unforeseen situations during this time, but there are both buyer’s and seller’s rights designed to prevent a major decision from becoming a major regret. These protections will make sure that you don’t lose money or endure an unnecessary battle in the process.


"There are both buyer’s and seller’s rights designed to prevent a major decision from becoming a major regret."


Example No. 1: The seller says, “I accepted an offer, but now I’m wondering if I could have sold it for more. Can I keep looking for offers?”

Were you anxious to sell and worried another offer wouldn’t come rolling in? Accepting an offer doesn’t mean you can’t at least look at other offers. Once you are officially under contract, you’re obligated to sell to that buyer, barring any other contingencies. Here's the consolation prize: sellers can put a secondary buyer into a backup position so if the first contract falls through for any reason, the second buyer is automatically under contract.

Example No. 2: The seller says, “The buyer’s financing fell through before the close date. Can I walk away?”  

If your buyer’s financing falls through, or they’re unable to obtain financing by the closing date indicated in the contract, you have the right to walk away from the offer. Any change in the buyer’s financing can also provide the seller with an out of that particular contract. If the buyer needs to put down less money, they need to change their loan from a conventional loan to an FHA loan, or if any of the terms differ when the loan terms outlined in the contract and would negatively impact the seller, the seller can choose not to accept them.

Example No. 3: The buyer says, “The inspection raised some issues I wasn’t expecting, and the house appraisal doesn’t match the contract price. Can I back out of the deal?”

If the home inspection digs up some issues with the property like faulty wiring or plumbing, poor drainage, or defective heating, you may not be prepared to foot the bill as a buyer. When this is the case and the seller isn’t willing to fix those issues, you do have the option to walk away from the contract.

In addition, if the property appraises for less than what you’re offering, you have a few options. Since lenders will not lend for more than what the property appraises for, you can bring more cash to the table, you can wait for the seller to adjust the asking price, or you can rescind your offer altogether.

These are just a few examples of what can happen between making an offer and closing the deal. The majority of buyer/seller contracts end up as closed transactions with maybe a few speed bumps during the time between contract and closing. We try to make it easy as possible and help during that process.

For further information or any questions, please feel free to give me a call. I’d be happy to help.