Yesterday we talked about mistakes buyers make that ruin transactions.  Today we’re going to take a quick look at what sellers do to lose the deal (and we’re not even going to talk about the gigantic deer heads mounted on walls).

• Lose motivation to sell.  This is the big daddy of bad deals from the seller’s side.  Perhaps the seller remembers raising children in the home and can’t bear to leave it, or maybe that job transfer doesn’t go through.  Or the seller can’t find a suitable home to move to.  In any case, when the seller loses motivation, the deal may be dead.
• Refuse to let appraisers and inspectors inside the home in a timely manner.  This is why on our sales contracts, we have the little note stating there is a "responibility to cooperate."  I once had one buyer who was purchasing from a nasty divorce and the wife refused to let anyone inside because she was angry at the world.  When I explained to the other agent that she had the responibility to cooperate, we were able to get in.
• Once inspections are complete, refuse to make any repairs.  Yes, I’ve talked about this before.  But unless you specify "as-is" ahead of time, the buyer has the right to ask for repairs and if the seller agrees to them, they are contractually obliged to follow through.
• Home goes into forecosure while in escrow.  Ouch.  Fortunately, lenders are often willing to work with sellers, but it can get very messy when a seller stops making house payments because they think the house is sold and no more payments are needed.  Folks, make your house payments until you close.  When the lender gives payoff information, it’s done with payments made already in mind.
• Unable to clear liens on property (e.g., back taxes) and doesn’t have money to bring to table to close.  Recently, I had a seller who had to borrow $17,000 to bring to closing.  Our closing was delayed weeks because of this.
• Delays in closing!  We got lucky that it did close, but when closings are delayed, the contract may expire and the buyer may be unwilling to renew it.
• Seller moves out of town without giving someone a limited power of attorney to close.  No one can sign the paperwork.  No closing.
• Misrepresenations about home or neighborhood.  "This is a safe neighborhood!" is usually interpreted as "safe."  "This is a safe neighborhood!" does not compute with "There are drive-by shootings nightly."
• And finally, the seller doesn’t show up for closing!  That’s a sure deal-breaker!

The Maximizing Curb Appeal blog has additional suggestions, including get out of the house while it’s being shown.  Our own Shakhammer site talks about removing all wallpaper in order to sell – many buyers find wallpaper heinous and it can kill a deal in two seconds flat.

Coming next week: more people and places that make buying and selling a home challenging!