The Anti-Climax of a Deal Falling Through

You thought your home was sold with a conditional offer, and then you received the unfortunate news that the offer fell through. So, what’s next?

Consider if it makes sense to renegotiate. Failing that, have your lawyer review the purchase agreement to understand your rights and obligations. Typically, the buyer will get their deposit back, which is usually protected by contingencies. If you have multiple offers, your realtor should contact them immediately.

Understand why the offer fell through so you can course-correct if needed. Additionally, your REALTOR® can reach out to previous prospective buyers who had expressed serious interest for feedback on why they didn’t move forward with an offer.

Your REALTOR® can advise you if you should continue to show your property during the conditional period, provided you have an escape clause, which allows you to entertain other offers.

While it can be a big letdown when an offer falls through, it’s important to stay focused on your end goal of a successful sale and trust that the right buyer is on their way.