When you sell a house, the last thing you want is for the deal to fall apart right before closing. But according to the latest data from Redfin, that’s happening a bit more often lately. The good news? With the right preparation, it’s completely avoidable.
This June, 15% of pending home sales fell through. That’s a bump up from the 2017–2019 average of roughly 12%. While it may not seem huge, it’s still an increase—and one you don’t want to deal with when it comes to your own home sale.
So, what’s behind this trend? And more importantly—how do you avoid it?
Why Are Deals Falling Apart?
A recent survey from John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) found the #1 reason deals fall through today is the home inspection.
Here’s why:
- With today’s higher home prices and mortgage rates, buyers’ budgets are stretched thin. They have little appetite for unexpected repair costs.
- Since there are more homes on the market, buyers have choices. If one inspection turns up issues, it’s often easier to walk away and move on to the next property.
- If sellers aren’t willing to address repairs, many buyers would rather walk than take on the expense and hassle themselves.
The Solution: Pre-Listing Inspections
The good news is, sellers can get ahead of these issues by scheduling a pre-listing inspection. While it’s not required, the National Association of Realtors (NAR) explains why it’s so powerful in today’s market:
“To keep deals from unraveling . . . it allows a seller the opportunity to address any repairs before the For Sale sign even goes up. It also can help avoid surprises like a costly plumbing problem, a failing roof or an outdated electrical panel that could cause financially stretched buyers to bolt before closing.”
What’s a Pre-Listing Inspection?
It’s a professional inspection done before your home hits the market. Here’s how it helps:
- Gives you time to fix what matters. You’ll know what issues could come up in the buyer’s inspection—and you can address them early.
- Avoids last-minute renegotiations. When surprises pop up under contract, you’re forced into concessions or risk losing the deal. A pre-listing inspection keeps you ahead of that.
- Builds buyer confidence. When buyers see a home that’s already been inspected and maintained, it signals trust and can help your home sell faster and with fewer headaches.
The bottom line? Spending a few hundred dollars upfront could save you thousands later.
Should Every Seller Get One?
Not always. Every home and market is different. That’s where working with a knowledgeable real estate professional matters. A trusted agent will:
- Advise on whether to repair or disclose issues
- Help prioritize fixes that matter most to buyers in your market
- Make sure you comply with all disclosure laws
Bottom Line
If you’re preparing to sell, a pre-listing inspection could be the key to keeping your deal on track. Would you rather discover a major repair now, on your terms—or after you’re under contract, when time and money are working against you?
📍 Michael Olubajo – Your Trusted Real Estate Professional
1100 E. Hector Street, Bldg B, Suite 250
Conshohocken, PA 19428
📞 (610) 828-9558
📧 michael@therealestatemike.com
