One of the most common reasons why buyer financing can fall through on a home sale is due to lending issues. The buyer may be unable to obtain a loan or may not qualify for a loan. Another reason why buyer financing can fall through is because the buyer has lost their job. If the buyer is not employed, they will not be able to make mortgage payments and will default on the loan. Finally, buyer financing can fall through if the property is appraised for less than the purchase price. If the property is worth less than what is owed on the mortgage, the lender will not approve the loan and the sale will not go through.

Home buyers remorse is a common phenomenon in which a home buyer backs out of a sale, or gets nervous about their purchase, after signing the sales contract. There are a number of reasons why this can happen, including regretting the decision to buy, feeling overwhelmed by the purchase price, or realizing that the home needs more work than initially thought. In some cases, home buyers may also back out of a sale if they are unable to obtain financing. No matter the reason, buyers remorse is extremely frustrating for home sellers in Michigan.

A home inspection a step most home buyers take (not us as Zion REI though! We buy homes as is condition). It's an opportunity for the buyer to learn about the condition of the home before making a final decision. The inspector will look for any major problems that could affect the value of the home or make it unsafe to live in. Some of the most common home inspection issues include water damage, mold, pests, structural problems, and electrical defects. If any of these problems are found, the buyer may be able to negotiate a lower price or back out of the contract entirely. Either way, it's important to be aware of the potential issues that can be uncovered during a home inspection.

When you sell to Zion REI, we purchase homes in as-is condition and won't  ask you to do any repairs!

On the MLS (multiple listing service), many traditional buyers use financing contingent on their home sale. A sale contingency is a clause often found in real estate contracts that stipulates that the sale of the property is contingent on the buyer finding a suitable replacement property. While sale contingencies can provide some peace of mind for buyers, they often don't work out in practice. The offers often fall apart and it leaves the sellers and buyers feeling like the wasted time and money. 

When you sell your home to Zion REI, we don't have any contingencies! We're ready to buy your home as-is and close on the date of your choice.

The title is a document that proves ownership of a property. In order for a sale to be completed, the title must be clear of any defects and demonstrate that the seller has the ability to sell the home. When you sell your property using traditional methods with a real estate agent, typically in Michigan, the seller pays the title fees. (When you work with Zion REI, we pay for all the title fees).

Unfortunately, title insurance isn't always simple and can sometimes delay closing.  The title company may find a lien on the property, for example, which must be paid off before the sale can be completed. In some cases, the seller may not have enough money to pay off the lien and will need to find another source of financing. Alternatively, there may be situations where the find the house has a chain of title issue, old mortgages recorded, or fraudulent title claims.

When a title issue occurs (this doesn't occur often), most of the time a patient buyer and seller can work through the solution. Unfortunately, when you sell on the market it's not typical to find all parties can work together that long. Working with Zion REI, a cash buyer and experienced real estate investor, means that you can close many properties even if there are titles issues -- leaving us to take care of the problem after closing.