Few more words sound more ominous than “back on the market.”
They could mean that broker after broker couldn’t sell the property.
Or that a buyer withdrew after learning about nerve-wracking defects.
Or that the seller couldn’t stand the many months that the home was on the market with no taker and so elected to pause its marketing.
More charitable explanations also are possible.
Perhaps a buyer couldn’t get a loan after going to contract. It is possible that a co-op board rejected a buyer for a reason having nothing to do with finances — for example, a misbehaving dog — and not because of the building’s idiosyncracies.
It may be nothing more innocent than a break for holidays or seasonal vagaries.
Whatever the explanation, disappointment almost invariably underlies “back on the market.”
Although many buyers approach properties that return to the market as if they are damaged goods, the wise buyer will look at an apartment or townhouse that becomes available again as an opportunity.
What is that expression about one person’s trash being another’s treasure? A property that is back on the market is nothing to be shunned: It represents a second chance for buyer and seller alike.
Tomorrow: Bad breath
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Licensed Associate Real Estate Broker
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022