About 95% of all real estate transactions reach a successful close.
The NAR’s Realtors Confidence Index Survey data varies from month to month but, generally speaking…
- 75% of total contracts sail through without delays
- 20% of total contracts have delay hiccups
- 5% of total contracts fall by the wayside
Why Do Real Estate Transactions Fall by the Wayside?
This is where the data gets murky because there are many reasons for a real estate transaction to kick the bucket – financing, appraisal, title, and, of course, inspection. Sometimes sellers or buyers just change their minds. Of the 5% of total deals which are canceled, 99% are canceled for >1 reason.
What % of Transactions Are Canceled Because of Home Inspections?
<1% of total transactions are canceled because of a home inspection.
There’s no published pinpoint data. Even if a home inspection is listed as a reason for canceling a deal, it’s lumped in with “environmental,” which is just weird.
There Must Be a Better Way
There is a better way. Check out our Pre-Listing Inspection, which empowers you to confidently address issues prior to listing and helps you to help your customers prepare their homes for successful, high value sales. Faster close, higher price, fewer canceled deals – what’s not to like?
By US Inspect