Cancelling Contract

[Dave Mustaine]

I am selling my first house.    I was thinking of possibly cancelling the contract next week if the buyer doesnt have a loan commitment letter from the bank by the deadline.  The appraisal was over a week ago and the buyers agent has not even told me if the house appraised out, which I assume they are supposed to let me know.  

If I cancelled,  I would re-list the house right away.    If you cancel contract and relist the house, everyone will be wondering why the contract was cancelled.  Will this deter some buyers?    Will new buyers be reluctant to see the house and make offers not knowing why the previous contract was cancelled?  Is it harder to sell the second time?  Thanks!

[Chris Boyd]

I don't see it as a issue. Things like this happen all the time. The new buyer will of course want a inspection period, where they will do their own due diligence. No biggie.