Cathy Hertler (Burns & Egan Realty Group, LLC)

Spam prevention
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I would recommend the proeprty goes back on the market and meantime the buyer can pursue other sources of financing. This will hedge your bet.

May 09, 2016 10:51 AM
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Back on the market! No question here.

May 09, 2016 07:37 PM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Get the property back on the market

May 09, 2016 11:46 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Go back on the market with a time limit to perform to the current buyers and hopefully get back up offers. But I would want to know very speficially why this is an issue now - it may be a lost cause and why waste any more time?

May 09, 2016 11:16 AM
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

It all depends on the reason the financing isn't working.  If it's a lost cause, it's back on the market.  If it's something that can be easily cured, I'll try to work with the buyers and their agent.  Another factor is what is the market doing?  If we go back on, is it a good market or a challenging one to get the home re-sold. 

May 09, 2016 10:52 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Back on market.   Your Sellers will just lose more time if they wait on iffy Buyers.

     Best wishes to those Buyers; hopefully they can get their finances straightened out, and find another house.

May 09, 2016 10:48 AM
Scott Lawson
America's Home loans - Santa Rosa, Petaluma Mortgage Broker - Santa Rosa, CA
Mortgage Broker FHA, VA, refinance or purchase

People are quick to pull the plug and rip up the current offer...

Better to have the loan package sent to a reputable, quality loan originator in your area to give it the once over. This shouldn't take more than 15 minutes to review and render a judgment.



  1. The loan package is complete--the buyer is locked and loaded and ready to go
  2. The appraisal has already been done--no waiting for a new one to go through the system and potentially coming in with a different opinion of value
  3. It's the right thing to do. It's easy to want to smash the buyer one in the face, but it's not typically their fault. A lousy loan originator is often the culprit and he  may not have had a product to fit the buyer in the first place. A quality broker may have many, many more products that will fit than your typical bank or mortgage banker.

Again, this exercise will only take a few minutes and may save you weeks if you decide to take it back on the market, haggle with new buyers and deal with a another loan process that will take 30 to 40 more day...

I've done many "saves" for local agents when a deal goes nuclear. You just never know until you get a second opinion...

May 15, 2016 08:28 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Depends on your market -- in our hot market, I would put the home back on the market and find a buyer that truly can buy it.   In markets that are slower, and if it has been on the market a while, work with the buyer.

May 11, 2016 10:58 PM
Shawn and Angela Miller
Berkshire Hathaway HomeServices Amabassador Real Estate - Lincoln, NE
Lincoln and Omaha, NE REALTORS®

It really depends on why they couldn't get financing, especially if they were already pre-approved.  If it was something minor, give them an opportunity to seek out another lender.  Especially if the buyer's first bank was a large, non-flexible bank.  Could be something very minor a small local bank or mortgage company would handle differently.  Maybe the buyers could also get a co-signer or something.  Too many unknown variables here in this question to just say NO and put it back on the market.  We had a similar situation many years ago.  When the bank, during the final week till closing, went to do the final and last credit check, it dropped their credit score 2 points below what it should be.  Loan got denied by the "big bank" underwriter.  We sent our buyers to locka mortgage company that had lower standards and got them approved and closed in another 3 weeks. 

May 10, 2016 01:54 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It would depend why the buyer could not get a mortgage, Most likely if they tried an internet lender who could not close it, why were then not persuaded to use a reputable bank from the start. If a credit issue, no one may be able to give them a mortgage and time to start over

May 09, 2016 10:10 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Back on market!! Not even a thought about doing so!

May 09, 2016 10:01 PM
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

If you have no back-up offer, return to the market.

It's best to wait until after you jump out of the plane before pulling the cord on your parachute.

May 09, 2016 08:58 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Cathy. Unfortunately if happens and I am often a lender that is brought in after someone has failed, so that I can give a second opinion. I will let them know if they have a shot at getting a mortgage. Then I will make a recommendation, most of the time an extension is granted.

May 09, 2016 06:21 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Depends on the reason. I'd consult my preferred lender before making a decision ( they usually are ready to give an answer the next day after receiving the file). One time we switched a lender and closed in 7 days FHA after failing with an original lender. 

May 09, 2016 04:36 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

No extension.  No recommendation of  to accept offer unless the approval letter is only conditional to appraisal and buyer's not having financial changes (ie loosing their job or something of the sort).  Why take a property off the market for buyers who are not qualified.

May 09, 2016 03:26 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Back on market, and make sure YOUR prefered lender approves them before accepting another offer from them.

May 09, 2016 01:23 PM
Melissa Jackson
Century 21 Alliance Properties - Azle, TX
Helping You Make The Right Move

Depends why they can't get the loan.  Your homeowner can't carry the loan payments. You have no back up offer. I would suggest to put the home back on the market. 

May 09, 2016 12:54 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

This is why we screen lenders.,...up front, at a minimum have the buyers for every listing get pre qualified from a list of lenders you trust...put this listing back on the market and follow this won't ever have Sellers disappointed again.

May 09, 2016 12:47 PM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

That depends on the situation as to why they can not get approved for their financing. 

May 09, 2016 12:27 PM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

I wold get the home back on the markete ASAP.  Also if the buyer was using a large bank I suggest finding a smaller one right away.  many of the small backs are easier to work with

May 09, 2016 11:56 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

it depends on whether the financing is a no go everywhere or just with this lender - I am literally facing that this week - I just put the house back on the market tonight - I am hoping that the buyer will talk to my lender so I can be sure that no one can get this buyer a loan 

May 09, 2016 11:43 AM
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Depends why the lender didn't fund. At this point, the buyer has to open up and let the seller know what the problem is. Sometimes it can be worked out.

May 09, 2016 11:33 AM
Jack Lewitz
Exit Strategy Realty - Evanston, IL

I agree with Patricia Kennedy. I remember going to the closing with my buyer on a Friday and their lender decided not to fund the deal. Over the weekend we scrambled to find another lender  and closed on Monday. Anything is possible  in this business you just have to think it through and do your best. Sometimes though you also know when to fold the cards.

May 09, 2016 11:22 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Well I wouldn't let it go that far to begin with. I just had a deal where I had to extend twice because of a lazy lender. But I found about about the laziness in first few days. I rode them until the finish and toyed with starting over

May 09, 2016 11:21 AM
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Would recommend both, if your seller is willing and financing is not impossible for the current buyer. Since you stated it will show better and is now vacant...go get those backup offers! Just in case.

May 09, 2016 10:42 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 Did you take a back up offers?  

We have one listing the buyer loan was rejected and backup offerer walked. We got a local lender willing to lend money stretching the coe to 10 days longer.  

May 09, 2016 10:29 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate


May 22, 2017 05:56 AM
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

BOM, this protects me.  That way if they decide to move forward it's their fault.

May 10, 2016 09:57 AM
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Revert the listing back as active.

May 10, 2016 05:46 AM
Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Send a notice to perform, cancel the escrow and put back on the market.  The first buyers can have first right of refusal, but you don't have to make the house "offers subject to cancellation of prior escrow."

May 10, 2016 03:24 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

See if you can terminate the contract and put the property back on the market. Also be thankful you did not already spend that commission check.

May 10, 2016 01:26 AM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

As a listing agent, I had this happen once;  it wasn't exactly the same, the house the buyers were selling was under contract, but fell out. So, my sellers went back on the market but before we got an offer, the original buyers were able to get their house sold so were able to come back with a contingency free contract.  It worked out in the end, but no way would we have "waited" for them. 

May 10, 2016 01:04 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Earnest Money permanently non-refundable to the Buyer - Buyers funds if they do close - otherwise - Back on the Market!

May 10, 2016 12:29 AM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

how the hell did that happen!!! if the buyer was properly pre-approved and there was trust in the lender who did that pre-approval, the buyer should be financed....and why is this happening the week before closing.... date for notice for a mortgage should be many weeks before closing.... many more questions here~~

May 09, 2016 11:07 PM
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Try a different lender, quickly.

May 09, 2016 10:58 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Move on. Put the property back on the market.

May 09, 2016 10:51 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It depends.

May 09, 2016 10:40 PM
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

If the buyer is cancelling the contract, or AGREEING TO ALLOW SELLER  to change the status, only then can the seller arbitrarily just put it back on the market.

Read the contract...has the buyer really breached it?  Maybe not.  Just because the buyer misses a deadline, does not automatically cancel the contract.  

Sure, if the buyer and seller agree to cancel a week before closing, than the seller can do whatever they want.


May 09, 2016 10:30 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Get back on the market asap and what Jeff Dowler CRS said, too.

May 09, 2016 10:30 PM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I would give my sellers the options and let them decide what they want to do.

May 09, 2016 01:14 PM