>>> When the offer came in I held onto it as long as I could, hoping for other offers.
and
>>> If you are getting investor interest, you’re probably pricing to low.
Contradict each other.
If you’re priced too low, you should be getting multiple offers, regardless of investor or non-investor. If this offer was the only one you had, chances are you’ve priced your house too high, given the condition and everything else.
There could be many reasons why it fell out of escrow/ Maybe the buyer found something better for the same amount of money. That would have happened irrespective of whether the person is a cash buyer or not a cash buyer and whether the person is an investor or not investor.
If you were dealing with a non-cash buyer, you know what could have happened? You could have made it past the 17 day contingency, and the buyer still could have backed out afterwards if he didn’t meet his loan contingency.
If you really really want to push the envelope for a cash buyer, you can reduce the contingency period from 17 days to 10 as a counter offer (for example). I’ve had that done to me a few times as a cash buyer, and it didn’t bother me or change my mind one bit as long as the seller provided all the necessary documentation etc (for example HOA docs) in time. . If the person never looked at the place before submitting an offer, you could ask your agent to request that too from the potential buyer.
The only thing you should care about is getting the house sold at the highest price irrespective of who the buyer is. No emotional attachment whatsoever.
Sorry you fell out of escrow. It happens. just be patient, and eventually it will happen.. Been there, done that.
