Homes come back on the market for a variety of reasons. Just because a home comes back on the market does not mean it is a problem. There are cases when coming back on the market can be avoided and there are others where it can’t. As long as you can verify what the issues were that caused the original contract to fail, and that those issues have been resolved, these homes can make a good buy.
Reasons Homes Come Back On Market:
- Problem with the home inspection
- Buyer unable to get financing
- Buyer changes their mind
- Failed home sale contingency
- Discovery of Title Defects or Lien’s
- The home did not appraise
When a home is back on the market, it might sell right away if the prior contract was terminated due to buyer default or another buyer-side issue. If you are interested in a home that is back on the market, don’t wait. Be prepared to write an offer immediately if the home is right for you. Knowing why a home came back on the market is important for our clients. Our proprietary due diligence checklist provides you with the best information to understand why the home is back on the market.