Why Vancouver Buyers Walk Away From Accepted Offers

By Prab Dhoot

Prabhu ‘Prab’ Dhoot began his real estate career in 2009. He is focused on providing his clients with the best results and service in the industry with his aggressive negotiating skills.

When a buyer walks away during subject removal, most sellers think something is wrong with the home. In Metro Vancouver, that is usually not true. The home is rarely the real problem.

Why walking away feels safe now. Buyers have choices again. With more homes to look at, walking away from one deal feels much safer than it did a few years ago.

The real reason is the payment. In most cases, it’s the monthly payment. A buyer often writes an offer with emotion. They find a home they love, and they focus on getting it, not the full cost of owning it. Later, the lender confirms the true monthly cost, and it’s higher than the buyer expected.

Suddenly, a home that felt right no longer fits their budget. At that point, the buyer blames the inspection because a small issue in the report is an easier excuse than saying the numbers don’t work. But the payment is the real reason.

How to protect your sale. You can prevent most of this before you accept an offer. Ask whether the buyer is fully approved by a lender or only pre-qualified. The strongest offer is not the highest one. It is the one most likely to reach completion day.

If you are selling, please reach out to me before you list. I will help you read an offer and see whether it will hold. Call or text me at 604-715-7653, email me at info.prabdhoot@gmail.com, or visit blog.prabdhoot.com.