It takes a willing buyer and a willing seller.
“It takes a willing buyer and a willing seller to close a transaction,” said my real estate instructor 17 years ago. That sounded obvious then, but I’ve learned otherwise since. There are plenty of ways for sellers and buyers to have a falling out. It’s more likely for buyers to have a change of mind, but sellers are not immune. The likeliest moment for buyers to turn their back is after the home inspection. For a first-time buyer, the inspection report reads like a litany of defects pointing to an impending disaster.
Wikipedia explains that “the fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.”
This story is about buying a new home and selling the old one.