One Of the Biggest Deal Breakers in 2023 Real Estate Contracts

Hey, everyone! Scott here, your go-to realtor and coach in good ol' Omaha. So, who's ready to dive into a topic that’s as hot as our Nebraska summers? 🌞 We're talking about the second most common reason real estate contracts fall apart—yep, you guessed it, financing.

Interest Rates: The 2023 Plot Twist 🌀

So, this year, interest rates are doing the cha-cha—two steps forward, one step back. Honestly, if you blink, you might just miss another rate change. And if you think that's not a big deal, think again! It's a game-changer, especially when it comes to financing.

Why Rates and Financing Are Joined at the Hip 💃🕺

Let’s break it down, shall we? Imagine you're all set to buy this super cute bungalow. Then bam! Interest rates skyrocket like a firework on the 4th of July. 🎆 Now what? Well, banks and lenders suddenly act like that bouncer who checks IDs super carefully. "Sorry, you're not on the list anymore."

Action Plan: Dodge the Financing Pitfalls 🤸‍♀️

First off, get pre-approved—not just pre-qualified. Trust me, they’re as different as cornbread and croissants. Being pre-approved is like having VIP access at a concert. You get the full experience, not just a sneak peek.

Also, keep a weather eye on interest rates. If they drop, that could be your cue to lock in a mortgage rate faster than you can say "Go Big Red!"

Don't forget, a realtor like me can help you make sense of all this madness. We know all the ins and outs of real estate contracts, and we're kinda like your co-pilots, helping you steer clear of the turbulence.

Wrapping Up Like a Burrito 🌯

Alrighty then, now you're clued in on why financing is the number two contract killer in 2023's wild world