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Updated about 1 month ago on . Most recent reply

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Kay Sam#1 Rehabbing & House Flipping Contributor
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I Need Alternatives After Buyer Pull Out

Kay Sam#1 Rehabbing & House Flipping Contributor
Posted

So I was hopeful about the deal I had making it to the table & the buyer's have pulled out again. This is my 2nd offer being signed since house has been listed in June, where buyers pulled out. Both different reasons: #1 was the sinkhole issue (remediated & documented), #2 now "4 point issues" that "were too many to fix." I am basically out of time in ab out 20 days to get this house unloaded. The this home is going back live today at same price. We're going to call an inspector so we can have a report & fix anything that might be on there to get ahead of any future reports. The problem is I have NO TIME to waste.

Other options such as LTR, STR will not work numbers wise to cover monthly carrying costs. The best option I had to recoup has been market price. I don't want to foreclose clearly. DSCR loan is not really an option as my TransUnion credit score is 639 & most want 640 or 650.

What else can I do to get my money back & move forward? I feel like I'm at a lost completely as once again this is the rug being pulled from underneath me. This is my 1st SFH fix & flip and it's going horribly. On market since 6/13/2025. Offer 6/27/25 pulled out, offer again 8/27 pulled out today on damn Labor Day...

HELP!

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Peter Mckernan
#4 Rehabbing & House Flipping Contributor
  • Residential Real Estate Agent
  • Irvine, CA
1,322
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Peter Mckernan
#4 Rehabbing & House Flipping Contributor
  • Residential Real Estate Agent
  • Irvine, CA
Replied

It is a tough market for everyone out there right now, especially in the states like Florida, Texas (depending on the area), and much more. I just lost some money on a deal because the market changed and we had to get out due to the holding costs being so high. Markets will change and you'll need to act accordingly to make the move as quickly as possible to either profit or get out so that the HML does not foreclose.

I would suggest just getting it on the market with a little price drop, $258,900. And do not do the fixes for the pre-inspection. My experience with those is that your inspector will call out ABC and the next inspector will call out XYZ, and then you are fixing 2x the stuff you would be if someone came to you with a list of repairs from their own inspector. It really does not help speed up the process since 90% of people will get their own inspection anyways. I would just be open to dropping a bit more, or giving a credit and getting out of the deal. Getting out with a small loss is better than getting out with losing it all. 

  • Peter Mckernan
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The McKernan Group
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