When The Buyer Backs Out: Real Estate Sales SolutionsWhen The Buyer Backs Out: Real Estate Sales Solutions

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When The Buyer Backs Out: Real Estate Sales Solutions

The first time I sold a house, I had no idea that the buyer could back out of the contract partway through. I was taken aback when it happened to me, and my real estate agent had to explain the process of terminating the contract and requesting the earnest deposit. After the contract was terminated, I spent a lot of time researching why a buyer could back out of a sale, what I could do about it as the seller, and ways to minimize the risk of it happening. I created this site to share what I've learned in the hopes of preventing other homeowners from experiencing what I did. I hope it helps you to be better prepared as you sell your home.



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Moving Out After A Sale: How You Need To Leave The House

After what seemed to be a never ending journey, you finally sold your home. The only thing on your mind is packing up and moving out as quickly as possible. But wait, not so fast. While tempting, you can't exactly move and dash. There's a certain way you need to leave the home before handing over the keys to the new owner. To finalize the sale, you and the buyer were required to complete a purchase contract. Purchase contracts are legal documents that state each party's responsibilities within the transaction. In many states, the condition of the home upon transfer is included in this document.

Look Over Your Contract

After you've removed all your belongings from your home, review your contract to see what it says regarding the condition the home should be left in. If this type of clause is included, it will generally require that the home be professionally cleaned or at the very least, broom cleaned. With a professional cleaning, you would be required to have a professional company come in and clean the home from top to bottom.

From the toilets to the ceilings, the entire home should be dust and dirt free. With a broom clean, not as much is required. A broom cleaning is basically the same as a surface cleaning. All trash should be removed and at the very least, you should be sweeping the floors and dusting off all surfaces. While it might seem minor, violating this term of the agreement is enough to face penalty. Make certain you understand the terms of your contract.

What If It's Not Included In The Contract?

Since every state doesn't require that this type of clause be included in the purchase contract and there are instances when buyers and sellers amicably agree to leave this component out, you might not have clear instruction. If this information is not included in your contract, you will need to rely on your best judgment. While you don't necessarily have to leave the place spotless, you should be putting yourself in the place of the buyer. Would you want to walk into your new home to find it trashed? The answer is likely no, so at least make the place presentable.

Moving out of your home isn't the end, but it's very close. Make certain that you understand your requirements so that you are leaving the house in the proper condition, as promised. If you're having difficulty understanding the terms, your real estate agents can assist you.