{"id":3656,"date":"2012-09-21T15:08:06","date_gmt":"2012-09-21T15:08:06","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=3656"},"modified":"2012-09-21T15:08:06","modified_gmt":"2012-09-21T15:08:06","slug":"home-buyers-canceling-contracts","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/home-buyers-canceling-contracts\/","title":{"rendered":"Home Buyers Canceling Contracts?"},"content":{"rendered":"

Home Buyers Canceling Contracts?<\/h2>\n
\"Home<\/a>

Home Buyers Canceling Contracts?<\/p><\/div>\n

With a high number of Home Buyers Canceling Contracts<\/strong>, even as the housing market picks up and sales are on a rise, new data from Capital Economics shows. Nearly 18 percent of signed contracts on existing home sales were canceled from May through July.<\/p>\n

What\u2019s more, 36 percent of real estate professionals say they\u2019ve experienced a problem with Home Buyers Canceling Contracts<\/em>, whether that be a delay, negotiations on the sales term, or a cancellation of the contract, according to the National Association of REALTORS\u00ae.<\/p>\n

What\u2019s leading to the high number of Home Buyers Canceling Contracts<\/span>?<\/h3>\n

For one, some are blaming tight lending requirements for causing more contract cancellations. More buyers find that as they inch toward closing that they\u2019re unable to get the financing approved for their home purchase or are facing major delays from obtaining a mortgage.<\/p>\n

Some analysts blame the high number of\u00a0Home Buyers Canceling Contracts on the limited inventory of homes for-sale on the market. The limited inventory is prompting some buyers to aggressively bid on a property in order to get a seller\u2019s attention. However, after getting the \u201cwinning\u201d offer, these buyers reevaluate how much they truly wanted the home in the first place, Bryan Sweeley with ZipRealty in Santa Clara, Calif., told MarketWatch. In those cases, if a home inspection or appraisal reveal any any potential snafu, the buyer may be prompted to walk away from the deal.<\/p>\n

Still, Capital Economics notes: Just because a buyer cancels a contract to buy a house doesn\u2019t mean they\u2019re walking away from the housing market altogether. They may then go on to make an offer on another home, or it may be just renegotiating in a new contract on the same property.<\/p>\n

Source: \u201cCanceled Contracts Dog Real Estate Recovery<\/a>,\u201d MarketWatch (Sept. 19, 2012)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Home Buyers Canceling Contracts? With a high number of Home Buyers Canceling Contracts, even as the housing market picks up and sales are on a rise, new data from Capital Economics shows. Nearly 18 percent of signed contracts on existing home sales were canceled from May through July. What\u2019s more, 36 percent of real estate … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-3656","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHome Buyers Canceling Contracts? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"description\" content=\"Home Buyers Canceling Contracts? 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