Relocate to Wisconsin : WHY is the listing "Back on the Market" ?

WHY is the listing "Back on the Market" ?

  There is not ONE answer to this question...and sometimes not ONE you can give at all as a listing agent.

   In Wisconsin...there are 3 reasons a home may appear back on the market.  The first is Financing.  While a pre approval

Bankermay have been required (certainly should be) by the listing agent....the Loan Officer/Financial institution may not have done their due diligence.....and as a result the borrower does not qualify for the mortgage.  Can this be fixed ?  Maybe... In Wisconsin...part of the financing contingency states not only the loan amount and maximum interest rate...but also the KIND ofOffer to purchase loan. For example if the offer to purchase is written with conventional financing and the Buyer is found not to qualify ....BUT may qualify for an adjustable rate....but doesn't WANT an adjustable rate...that can get him/her/them out of the contract with earnest money refunded.   This can happen later in the contract should the buyer for example...lose a job...swing their debt to income pendulum by furnishing the whole house, buying a new vehichle, replacing every appliance...before the loan closes.

       If an inspection has been done on a property and the Sellers chose not to repair/replace a defect they must amend Home Inspectorthe real estate condition report to let future buyers know of the problem that was discovered by an earlier inspector.If the defect is serious....the Buyer can cancel the contract. 

     The last reason is appraisal....most offers in our experience especially now in the days of  escalation clauses....have an appraisal contingency...the Buyer has an  out if the property does not appraise for the amount that they wrote in the offer to purchase. 

      When an Agent questions...WHY is a property back on the market....and a condition report has not been changed...the most professional answer by a listing agent is "it was NOT due to an inspection". The Selling agent may make whatever assumptions they wish...ethically,  we don't believe revealing anyone else's financial condition is a good practice for any agent.

       This has been a professional real estate post brought to you by Sally K. & David L.Hanson, Broker Associates with Keller Williams honored to be representing Sellers and Buyers in  southeastern Wisconsin.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS

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Comment balloon 17 commentsSally K. & David L. Hanson • March 03 2018 02:41PM


This is always a tough one... more often than not I see houses BOM because of a bad inspection. Just had that situation this week. Called the agent to ask why home was BOM after only a week. She said it was a small disclosure issue over age of one of the A/C units, but that she had an inspection report she could send me. That inspection report just about gave me a heart attack! Disclosure issue, my foot! There were structural issues, moisture issues... 65 pages of issues... some fairly material facts. My GC looked at the report and we were up to $25K in repairs in no time and that was scratching the surface. Seller was not disclosing anything, so this was how the agent was covering her fanny in terms of disclosing.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (RE/MAX Executive | Charlotte, NC) 4 months ago

Hi Sally K. & David L. Hanson - Because we are a second home market and values are a little more conservative, the biggest reason in Sedona I have seen homes BOM is because of the inspection. 

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 4 months ago

After 20 years in this Profession I have seen dozens of reasons homes go back on the market.

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) 4 months ago

In this market we also have the enthusiastic buyer who wins the highest bid in multiple offers, then wakes up in a sweat terrified of what they did.  I get calls from listings agents who say, "We're not liking this buyer, are you still interested?" One buyer lost his job a week before closing, just before Christmas, it was not a happy time for them.

Posted by Mary Jo Quay (Remax Results) 4 months ago

In Texas, we have an "option period" during which the buyer has the unreserved right to terminate the contract for any (or no) reason. The buyer doesn't have to let the seller know why. Sometimes the buyer just gets cold feet. Sometimes the buyer may have offers out on several homes and one that is better suited comes along. Most often, though, it's financing issues, appraisal issues, or condition issues.

Posted by Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417, Real Service. Real Results. Real Estate (United Real Estate) 4 months ago

Hello Sally and David not that is a great post and one that you should make a video out of, it would be a great one.


Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 4 months ago

I could give you many reasons Sally K. & David L. Hanson  but that is why when I do market reports I never discuss pending sales

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 4 months ago

Because it's your lucky day BUYER! That is optimistic without a doubt Sally K. & David L. Hanson 

Posted by Paul S. Henderson, REALTOR®,CRS,, Tacoma Washington Agent/Broker & Market Authority! (RE/MAX Professionals.) 4 months ago

Sally and David those are 3 common reasons around here as well.  The reason I have seen most is because the Buyer was spooked by inspection issues.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 4 months ago

Good evening Sally and David - that sounds like the best way to address the question.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 4 months ago

In Virginia the seller is not required to inform the next potential buyers of any defects found in a previous inspection.  We are a non disclosure state.  So when a piece of dog doo doo goes back on the market the next inspector will probably say the same thing!

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) 4 months ago

Morning Sally.

Around here the biggest reason is the inspection, and the failure to come to a compromise

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) 4 months ago

This is very good information to share with prospective home buyers.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 4 months ago

Good morning Sally and David.  Some think that a home coming back on the market is a bad reflection on the home.  It should be thought of as an opportunity for another buyer.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 4 months ago

That is one of the most asked questions when a home comes back onto the market, why did it come back?  People always start making assumptions right away.

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) 4 months ago

I've seen a lot of buyers backing out prior to the inspection recently. This week, I saw one come back on the market because the home didn't have a garage (not quite sure why the buyer would even put an offer in on it if he knew having a garage was important since it was pretty obvious to tell this home didn't have a garage)

Posted by Erika Rae Albert, Austin Real Estate Expert, Exceeding Expectations in Every Transaction (E*Rae Real Estate Group- Powered by eXp Realty LLC) 4 months ago

Hi Sally and David, so many reasons and most not particularly positive.

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) 3 months ago