After selling hundreds of homes in the Denver area, the most common concern that I run into is the uncertainty of the transaction. The Colorado contract is written from the perspective that the buyer is the consumer, so they have all of the rights and protections, leaving a seller on the hook even if the buyer gets buyer’s remorse.
I always get asked how we prevent it or know when it’s coming. The truth is that we can’t. There are signs of it happening and usually the pattern is the same. The best way a seller can protect themselves from a buyer who might not perform is to have multiple buyers in line for their house. How do we do that? Make sure you positioned your home correctly in the market so that you can generate multiple offers.
When you put yourself in a position in the beginning where you know your home will sell and there will be a line of people who want to buy it, you take so much stress off of yourself. Then you can approach the situation from the perspective that it doesn’t matter really who buys your house or if they back out because you will have multiple options available to you. It’s like speed dating when you do it right, you can pick who you think is the best, and then if they get flaky you can move on quickly.