An experienced and wise REALTOR® would solicit BACK UP OFFERS for his sellers in the event that the transaction was in jeopardy.
This very event occurred on a recent listing, where competing offers were made. The WINNING offer was better and with a stronger deposit. After the deposit was received and deposited the Purchaser upon reflection backed away from the sale.
Other PURCHASER's had expressed their interest and dismay that they had missed the opportunity to bid and would be pleased to step in should that situation arise.
With a short list of 10 names and numbers, they were individually contacted to ascertain their ability and capacity to purchase the home.
Quickly ( within one day ) a suitor had been found.
A new contract was drafted and concluded. (A Mutual Release was in hand)
Bank Appraisals and Status Certificates are causing many challenges for the uninformed or inexperienced buyers to react at the speed of the market.
I strive to make it easier and seamless for you. Ultimately it's the results that matter.