In looking at the process of selling a home, there is nothing more frustrating than putting a house back on the market due to a failed home inspection. The frustration is exaggerated even further when a buyer backs out because of minor issues.
There aren’t many situations real estate agents want to deal with than having to put a home back on the market because a sale falls through. Unfortunately, it does happen.
You may be completely surprised by this roadblock, or you may have had a sneaking suspicion something like this could happen. Either way, you are still in the undesirable position of having to re-list the home.
If you are worried about putting the home back on the market because it will look bad to buyers, you have good reason. Buyers and their agents will look more closely and with more skepticism at a home that has been re-listed.
You need to be prepared for this extra scrutiny by going over the home with a fine-toothed comb and consulting with your Realtor to make sure you won’t run into the same problem a second time.
Fixing problems a home inspector has discovered is often advisable to do.
You can expect your real estate agent to be questioned by a buyer’s agent for the exact reason why the home has come back on the market.
Real Estate agents by law have to be completely honest with future buyers.
For example, if your home is back on the market due to the home inspection, this has to be disclosed. If the buyer has said they backed out because of X, Y, and Z, you need to let future buyers know these issues exist. Unless of course if you don’t mind being sued.
Although it can be disheartening to find yourself relisting your home, don’t lose hope. Plenty of sellers experience something similar, and most of them are able to list their homes again and make a sale. Pay attention, do your due diligence, and work closely with your agent to ensure you are successful.