Sometimes, even if you are armed with the best laid plans, something goes awry. At times the problem can be remedied with a little damage control. But there are also times when, no matter what you do, everything will simply fall apart.

These can happen anywhere and anytime. You’ve seen weddings that do not materialize at the last minute, conferences that fall apart at the seams midway through the event, and, due to the numerous personalities involved in real estate transactions, property deals that are not at all consummated.

The collapse of real estate deals can be attributed to several factors: from being totally legitimate to being downright silly. But generally, causes of failed transactions can be traced back to three sources: the bank or lending institution; the relationship between the buyer and seller itself; and the influence of 3rd parties.

The most usual problem that could kill real estate deals come from the banks or mortgage institutions themselves. What usually happens is that the loan the buyer wants to make is not granted on time. This could be attributed to the buyer (for submitting incomplete documents), loan assessor (for not attending to the loan immediately), or the process itself (takes 3 months to grant a loan).

Dishonesty between the buyer and seller, as well as personality clashes is also a reason for shaky real estate transactions. Sometimes, during the final walk through, the buyer notices something he cannot accept that was not mentioned to him during the initial meetings. To prevent this from happening, it’s best to disclose everything at the onset. There are times too, when personality clashes come in the way of closing deals.

Being unable to close a sale due to external factors is the most frustrating of all. Problems with unreasonable would be neighbors, unusual demands of home owner associations (no pets, for example), overly diligent inspectors are usually pointed as culprits to failed deals. But the most "are-you-serious?" 3rd party deal breaker would be the buyer "advisors". These could be tarot card readers, or feng shui expert or their psychic aunt Gloria. Sometimes, even when everything is in place, deals are terminated simply because … they were told not to go through with it.

One can really not adequately prepare for everything. No one can predict the outcome of any situation, no matter how much experience you have. The best way to actually "remedy" the situation, especially for the seller, is to have an alternative. Don’t just turn away the buyer that’s next in line. Entertain him still. You’ll never know … he may just be the one who closes the deal after all.

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