Buying or selling a property can be pretty exciting. From the moment you make the decision to the time you find your dream property and are ready to seal the deal the entire experience usually goes off without incident for most.
With that said there are those times when your joy and excitement is turned to nervous tension because something has gone wrong. In this three-part blog we look at 9 things that can go wrong in real estate transactions.
Listening to friends and family
Most of us rely on the opinions of our friends and family when making important decisions like buying or selling our houses but these opinions can quickly get us into hot water or out of a good deal when the ones we trust have no property experience. This doesn’t mean we should ignore our friends and family but we should never take their word for it especially if you have access to professional advice.
If the property you are buying or selling has a pest infestation of some sort the chances of closing the deal on the property are greatly reduced. This is something that can often only be discovered during the property inspection which could be quite a let-down especially if you had your heart set on completing the transaction.
Seller refuses to make repairs
When the seller refuses or forgets to make repairs that were previously agreed upon this can be a major factor in halting the deal. It’s worth remembering that if someone goes back on their word mid deal its probably not a good idea to follow through with it anyway because you don’t know what else they have been dishonest about.
Lookout for part 3 of our post where we look at three more things that can go wrong with real estate transactions.
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