In the last 10 days roughly 3% of the homes for sale in Wellington Florida have come “back on the market” and many home buyers want to know why, so below I have put together a list of the 3 most common reasons I have seen homes in Wellington come back on the market.
3 Most Common Reasons Wellington Homes come “Back On The Market”:
1. UNDER APPRAISED: If a home buyer is obtaining financing in many cases the home must appraise for the contracted price in order for the buyer to be approved and receive financing. If the home doesn’t appraise it may come back on the market, but here are a few other options buyers and sellers may want to consider if the home doesn’t appraise.
2. BAD INSPECTION: While home inspections are never perfect, including newly construction homes, some inspection results can come back with major and/or costly issues. Depending on the contract some buyers can cancel it within their inspection period without penalty.
3. COLD FEET: Some home buyers have been second guessing their home buying decision after going under contract and depending on their contract some home buyers can cancel their contract for any reason within a certain time frame without penalty.
While these are the most common reasons I have seen Wellington homes come back on the market there are other reasons, like the buyer not qualifying for financing, a clear title not being provided within the contract periods and home liens not being cleared up within the contract periods are just a few other reasons.
Whether you’re looking to buy or sell your Wellington Florida home we can help! We will guide you through the entire buying or selling process from start to finish.