My home did not sell to the buyer we agreed to, what should I be considering?
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My home did not sell to the buyer we agreed to, what should I be considering?
Connor “with Honor” MacIvor - November 20, 2024** Tags: [Valencia real estate](/-/Blog/tag/Valencia real estate), [back on market properties](/-/Blog/tag/back on market properties), [BOM listings](/-/Blog/tag/BOM listings), [Santa Clarita real estate](/-/Blog/tag/Santa Clarita real estate), [Valencia CA homes](/-/Blog/tag/Valencia CA homes), [real estate strategies](/-/Blog/tag/real estate strategies), [home buying tips](/-/Blog/tag/home buying tips), [home selling tips](/-/Blog/tag/home selling tips), [real estate market trends](/-/Blog/tag/real estate market trends), [property inspections](/-/Blog/tag/property inspections), [escrow process](/-/Blog/tag/escrow process), [financing issues](/-/Blog/tag/financing issues) ** 0 Comments | Add Comment
Understanding Back-on-Market Properties: What You Need to Know in Valencia, CA
When navigating the real estate market in Valencia, CA, you’ll inevitably encounter properties labeled as Back on Market (BOM). This term refers to listings that were under contract but, for various reasons, have returned to active status. Understanding the implications of a back-on-market property can help both buyers and sellers make informed decisions in an ever-evolving real estate market.
In this comprehensive guide, I’ll break down the meaning of BOM properties, the reasons deals fall apart, and the strategies you can use as a buyer or seller to navigate these situations effectively. By the end, you’ll know how to handle back-on-market situations like a seasoned pro.
What Does “Back on Market” Mean?
Simply put, a property is considered Back on Market when a purchase agreement has fallen through. The home, once marked as “under contract” or “in escrow,” becomes available to new buyers again. BOM properties account for 20-30% of listings in Valencia, CA, and the surrounding Santa Clarita Valley—so it’s not an uncommon occurrence.
But why does this happen? Let’s explore the key reasons.
Common Reasons Properties Return to Market
Impact of Back-on-Market Properties on Sellers
For sellers, having a property return to the market can be disheartening. However, it’s not always the doom-and-gloom scenario it appears to be.
Perception of the Property
Time on Market
Adjusting Strategy
Strategies for Sellers to Avoid BOM Situations
Tips for Buyers Considering BOM Properties
From a buyer’s perspective, BOM listings can offer unique opportunities, but they also require extra scrutiny.
Dual Agency and Its Pitfalls
In Valencia’s real estate market, dual agency—where one agent represents both the buyer and seller—can complicate transactions. While it’s legal in California, it’s a scenario fraught with potential conflicts of interest. For BOM situations, having separate representation can provide clarity and ensure both parties’ interests are fully protected.
Back-on-Market Statistics in Valencia, CA
In recent months, BOM properties in Valencia have averaged:
Avoiding Emotional Decision-Making
Real estate transactions can be emotionally charged, especially when deals fall apart. However, emotions often cloud judgment and hinder effective decision-making. Whether you’re a buyer or seller, it’s essential to remain objective and rely on experienced professionals to guide you.
Conclusion: Turning Challenges into Opportunities
Back-on-market properties don’t have to spell disaster. For sellers, they offer a chance to reevaluate strategies and reengage the market with renewed vigor. For buyers, they present opportunities to secure a home in a competitive area like Valencia, CA.
Whether you’re dealing with a BOM situation as a buyer or seller, having the right agent by your side makes all the difference. An agent who understands the nuances of Valencia’s real estate market can help you navigate these challenges and come out on top.
If you’re looking for expert guidance, I’m here to help. I’m Connor with Honor, your trusted real estate ally in Valencia and the Santa Clarita Valley. Let’s turn your real estate goals into reality. Over and out!
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My recommendations are based on YOUR specific needs and the complexity of your situation—not who pays the highest referral fee. I live in Santa Clarita Valley, and my reputation in this community depends on your success. Local accountability matters.
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