My listing for the Fountain Valley home on Santa Carlotta recently closed. Yay! There were a total of 9 offers that were received. The Seller accepted the highest offer and escrow was opened. Unfortunately, that Buyer was unable to obtain their loan. So we had to move on to another of the offers.
Buyers should keep this in mind in this crazy market. Don't be afraid to write up a backup offer. And make it a solid backup offer, with all the details negotiated and signed. Then if the first escrow falls apart, you are ready to go. It happens occasionally and you can still continue to look at other properties while you wait to see if the original escrow period is going to go through.
