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My house sold for the price we were happy with, but the buyer's loan fell through, what do I do?

jensenjoe
Contributions: 4

jensenjoe

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House sold but buyers loan fell through, now no one comes to see house because I feel the price was right, and these other buyers are looking for cheaper houses, so what do I do now?

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July 05 - Jensen Beach

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Gabe Sanders, "Gabe Sanders"
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Gabe Sanders, "Gabe Sanders"

Real Estate Agent

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Zillow All-Star

Since August 2009

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Joe, I know the house that sold as well as yours. Since you are currently represented by an agent, I really can't get into the specifics. But, you do have a good agent and I would listen to her advice.

Good luck on your listing.

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July 05

jensenjoe
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jensenjoe

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Gabe,
Thanks for you response, the house down the block sold and closed just this May, two months ago. The broker I have now asked me to lower it $5,900.00 so we did, but that was no help. She tells me that they are looking at cheaper homes, and mine is to expensive, but she can deny the house down the block that just sold for more than I'm asking and it's a bigger home. There is more to this story but I don't want to say here.
If you want to see it go to MLS ID #343886, maybe you can help.
Thanks,
Joe

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July 05

Gabe Sanders, "Gabe Sanders"
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Gabe Sanders, "Gabe Sanders"

Real Estate Agent

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Zillow All-Star

Since August 2009

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Joe,

Why do you have to lower the price? Have you put it back actively on the market? When did the house down the block sell? Lots of other factors to consider. If you're working with an agent have him/her do an accurate CMA (Comparative Market Analysis) for you and this will tell you what the home will most likely sell for and you should price it accordingly.

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July 05

jensenjoe
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jensenjoe

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My house sold $5,000.00 below the house down the block from me, and it's smaller 3-2, and my house is a 4-3. My house passed inspection, and the Bank appraisal, but the buyer was a sales agent for Chrysler and the Bank denied the loan because they were not sure he would have a job when they closed that dealership. I know tough break, but since the appraisal was correct, what do I lower it to without sending a signal that there maybe something wrong with the house?

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July 05

rockinblu
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rockinblu

Glen Carbon, IL

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Maybe the buyer's loan fell through due to the fact that the house didn't appraise high enough (my guess). Drop your price slightly below the most recent sold comp if you're really serious.