fall out of escrow

Gone are the days of contracts being written without inspection contingencies. As the housing market continues to cool, more and more homes that were once in contract are now “back on market.” The main driver of this latest trend is the impact higher mortgage rates are having on affordability. Higher rates can add hundreds of extra dollars to a monthly loan payment. In addition to higher mortgage rates, many buyers are questioning the timing of their purchase and some are looking for any excuse to get out of the deal. Following are tips on how to avoid buyer back-outs in a cooling housing market. These practices will help eliminate surprises and keep your deal moving forward to closing. … [Read more...] about How to Avoid Buyer Back-Outs in a Cooling Housing Market