Thanks for your comment/question. Actually, we don’t track that kind of data, and we have not heard of any instances where this has happened. That’s not to say that it hasn’t, but probably not enough for anyone to get excited about it. You would probably be more apt to see a “Contingent” listing returning to the market due to a buyer’s inability to get a loan.

When a listing goes “Pending” that usually means that all the “hurdles” that a buyer needs to clear have been cleared and they are just waiting for the closing date. We don’t take a listing “pending” until the buyer has completed all inspections, given us a satisfactory inspection notice and has complied with the “loan committment” date per the sale contract and furnished us and our seller with proof from their lender that the loan will be made to the buyer.

Until the above scenario has happened, we display our listing as “Contingent” in the MLS.

I’m not sure that all real estate professionals use “Contingent” and “Pending” exactly in that way, so it is difficult, if not impossible to track.

Not to mention the fact that there are many more ways a home “under contract” can end up back on the market, ie… problems with inspections, title issues, seller remorse and buyer remorse to name a few.

AND..Yes, getting pre-approved these days is a bit more difficult, as lenders are requiring more documentation and proof of financial responsibility.
I guess they are finally going back to the “basics” of lending.

Guess what–if lenders had been this cautious right after 9-11, and the years following, WE WOULDN’T BE IN THIS MESS!! That’s just my thought, but it is shared with a lot of the so-called experts in this industry and the lending industry.

Thanks again for your comment,

Keep reading the blog-stay in touch.

Best Regards,

Art Wagner, at The St. Louis Real Estate Voice.

Even to get pre-approved, lately, I heard that people are being asked to bring everything: asset information, etc.