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The Truth about “Sale Pending” Homes: What You Need to Know.

posted by: Jeff Brand in Blog

So you’re browsing MLS, and you come across a home that appears to be your dream home. Unfortunately, MLS shows that there is an active contract on the house and lists it as “sale pending.” What do you do?

Do you keep scrolling?

Or do you call your Flower Mound realtor to take a look anyway?

Don’t Fear the Home that is Under Contract

As long as the seller’s agent gives you the green light to tour the home under contract, then take this opportunity to explore your options. While some might be hesitant to get their hopes up by looking at a home marked as “sale pending,” we recommend you jump on the opportunity if it might be the right fit for you – and here’s why:

  • Deals Fall Through All the Time: It might be that the buyer couldn’t get financing or that they got cold feet and backed out. No matter the reason, deals fall through all the time, so you can’t assume because a home is under contract that the home is history.

 

  • First Opportunity to Jump: Should a deal fall through, you have a much higher chance of getting the home if you’ve already put a back up offer in on it. Say the home doesn’t appraise for asking and the deal turns south, but you love the house and are able to put in a backup full-cash offer with no appraisal. A seller is very likely to jump at your offer with no competition!

 

  • Chance to Snag a Deal: If a potential sale falls through and the house is back on the market, it opens the home up for competition again. If you are poised and ready to get the home with an offer in before the sale falls through, a seller is much more likely to go with your offer vs. opening the home back up to more buyers.

Looking for the best realtor in Flower Mound to help you find the home of your dreams? Call Jeff Brand & Associates today! We’ve got the experience you need to snag that house, whether it’s already under contract or not.

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