contract not working out?

a house we like is going to contract tonight. what are the odds that it won't work out??? the agent did not think it was a "solid" deal. we just saw it last month and wanted to take another look and found out this afternoon that there was an offer on it so the agent said to take a look this weekend and then he called back to say that the contracts were going out tonight so we couldn't go see it. should i considered this a done deal or is there any hope???

Re: contract not working out?

usually the only real way it won't work out is if the buyers can't get a mortgage

i'm sorry

Re: contract not working out?

You never know but I would move on and keep looking. YOUR house is out there!!

Re: contract not working out?

I would move on and consider this house unavailable.

The agent may have thought the deal wasn't solid either because the buyers were moving very slowly (not scheduling the inspection, dragging their feet to sign the contract) OR because issues came up at the home inspection that needed to be negotiated, but negotiations weren't going well.

No one's really locked in until contracts are signed, so typically sellers will keep showing the house until then. But a lot of agents don't show their buyers houses that have a "first accepted offer" on them because they don't want to get their hopes up about the house, and most buyers don't want to start a bidding war.

Once the contracts are signed, everyone's committed. The pp is right -- if it's a traditional sale, not a short sale, the most common reason a deal would fall through is if the buyer can't get financing for some reason. If a buyer wanted to back out for any other reason, they would be breaking the contract and lose their down payment (unless the contract had other contingencies in it, which is highly unusual).

Re: contract not working out?

The sale can also not go through due to issues with the inspection.

But if that's the case do you really want the house then? And it's not like the seller's realtor is going to say that was the reason (they will most likely blame buyer financing).

I'd move on.