Property had 3 Pending Sales and is back on market

[Cristian Veres]

Hello everyone,

I am looking at a property that had 3 pending sales and is now back on the market.Is this usually a bad sign? The house def needs repairs and I am thinking this might be the reason why it failed to sell 3 times? I already saw the house with a contractor and the numbers look good to me.The only think I am worried about are those 3 pending sales. Is there something I can do to find out why the house did not sale other than asking the selling agent?

Thank you.

[Bob Okenwa]

You answered your own question. Call the listing agent and get info directly from the horse's mouth. The listing agent may be coy or even lie about the reasons for failed sales, but if the numbers make sense, get it under contract and have it inspected. I've seen instances where a property goes under contract only to bounce back a day later because the buyer got cold feet and never sent the earnest money. Or their was a low appraisal and the buyer wouldn't come up in price. Or the inspection report was really rough. Lots of reasons for a property to go back active. Call and find out.