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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3 Practical Considerations For Ordering New Construction After Viewing Show Homes

You're ready to have a new home constructed, and you're planning to look at some show homes to help you make a choice among contractors. As you start this fun process, it's important to keep some practical aspects in mind that are easy to overlook in the excitement of getting a brand new house. 

The Listed Square Footage May Include Outdoor Features

Depending on the state where the show homes are located and certain attributes of areas that extend the living space outdoors, the listed square footage might include some of those areas. An enclosed porch, a covered patio or a 3-season room may be included. Ask for a floor plan that includes the square footage of each room so you know exactly what you'll be getting. 

Many Features in Show Homes Are Upgrades

You may love the look of the kitchen in the show home, but upgrades such as marble countertops, cherry cabinetry and ceramic tile flooring add to the cost of the house you'll have constructed. The builder wants customers to choose these upgrades, but avoid making spontaneous decisions. Go back to your place, get into a realistic frame of mind, and remember the maximum amount you've decided to spend.

If you do choose some upgrades, get the details in writing. If you love the garden window over the kitchen sink, for instance, the contract should specify the size and specific design you're ordering. 

The New Subdivision

Contractors who build show homes commonly own tracts of land where they plan to build the new houses people order. Take a good look at the brand new neighborhood and realize what it will be like to live there as it grows and develops. You'll probably have to deal with the noise of nearby construction and changes to land features.

If you have young children, they may have difficulty understanding the continuous changes. They'll grow accustomed to open spaces and fields around your house, which then are increasingly taken over by new houses. Make sure the kids realize that this is actually a developing neighborhood, and that those vacant lots won't be there forever. 

Enjoy Your New Home

As you keep various practical factors in mind regarding your new home purchase, you'll experience better satisfaction with the place after you move in. This is a happy time and probably one you've been dreaming of for years, so enjoy your new real estate.