Awful News

It really pains me to write this post...our condo fell out of escrow today. I still can't believe it. We have been in escrow since April 26th and we were all set to close on June 11th. Everything seemed to be going fine and really very normally. We had an appraiser come in, our inspection turned out fine, the buyers even brought in a contractor because they wanted to begin renovations right away. However, the buyers couldn't get the loan approved. This is so frustrating for me because they were pre-approved! How does that work? If you are pre-approved for a loan, doesn't that mean that you're PRE-APPROVED?! It doesn't make sense to me, but I guess that the buyer's income couldn't be properly verified. But isn't that part of the pre-approval? I don't really know, but I would assume that income would be a big part of the pre-approval process.

So...where does this leave us? We are basically a month behind now. We lost a month of showings. When you're on time constraints, every day counts. Additionally, our condo is no longer in showing condition. We are boxed up. WS has been boxing up our place for the last week. He's moving on the 10th. We have to be ready for his move. I strongly feel that the way that a home looks definitely makes a difference to potential buyers. I'm hoping that any future potential buyers will be able to look beyond the boxes, but who knows.

I'm trying to stay positive, but I'm so disappointed. I really didn't expect this. We'll just have to try to focus on selling once again. I hope that we have another offer soon. But for now, we're back on the market.