Why Walking Away Saves Sellers Money
Most sellers assume a great agent fights for every offer. The reality is very different. A good agent knows when to step back and read the room. They recognize cases in which accepting an offer creates more problems than it solves.
In this post, we’ll look at a case involving a South Loop loft. It became a perfect example of why timing, buyer psychology, and strategic sequencing matter more than ever.
I advised the sellers to walk away from an offer they felt ready to accept. That decision kept them from wasting months of carrying costs and frustration. It shows how easily a deal can unravel when the first offer appears at the wrong time with the wrong signals.
The Factors Setting Up This Decision
This South Loop loft hit the market in mid-December, just as the city’s activity slows. The sellers were motivated because they were carrying both the mortgage for the loft as well as the one for the home they had just purchased. They faced several months of unavoidable expenses if the unit sat empty.
When the first serious offer arrived, they felt relieved. They wanted it to work. Getting that weight off their shoulders would have made a big difference.
But eagerness can distort judgment. Urgency can pull you toward decisions that don’t align with your long-term plan.
Key Signals From the Buyers During the Second Showing
I noticed a split dynamic: one buyer leaned in, while the partner leaned back. The cues were subtle but telling. One lingered too long in areas that raised concerns.
Questions shifted from informational to reassurance-seeking. Eye contact drifted. Doubt appeared in microexpressions that a trained agent recognizes instantly.
These cues rarely show up in the paperwork, but they matter. Buyer hesitation reveals itself long before an attorney ever reviews a contract.
Attorney Review Creates Hidden Risk
These buyers had a non-negotiable need for two parking spaces. The building had one. That mismatch signaled that attorney review would become the breaking point.
In Chicago, the attorney review period is when either party can kill the deal. Attorneys tend to avoid risk, and buyers can regret their purchases once adrenaline fades.
I predicted that accepting the offer would lead to termination several days later.
Why The Sellers Wanted to Accept Anyway
The sellers pressed to take the offer because they feared holding the property through winter. Most agents would have encouraged them to move forward, hope for the best and cashed their commission check.
I took the opposite approach and told them not to accept because the buyer lacked commitment. This advice protected the sellers from losing the entire winter to a deal that would inevitably collapse.
How Fast a Deal Can Fall Apart
Imagine a similar scenario. A seller lists a condo in early December. A buyer submits an offer during the first week. They seem excited but a bit tentative. Their agent celebrates early. The seller accepts.
Three days later, the inspection reveals minor issues. Nothing major. Still, the buyers become uneasy. Their attorney advises caution, suggesting they either renegotiate or walk away. At the same time, they start browsing other listings, convinced something better might appear in January.
After a week of back-and-forth, they terminated during attorney review. Now it is mid-December. The listing loses steam. Showing activity dries up until February.
The seller pays carrying costs for nearly three months. When new buyers eventually emerge, they question why the property returned to the market. The seller now negotiates from a weaker position and closes months later at a likely lower number.
This fictionalized example happens constantly in winter cycles. A failed offer costs far more than a rejected one.
The Strategy That Protected the South Loop Sellers
I recommended a temporary rental strategy. Instead of forcing a sale into the dead zone of mid-December through mid-February, the sellers rented the unit to offset costs.
This approach froze their expenses and reset the timeline. They regained control of their calendar, secured income stability, and positioned themselves for a stronger list window.
How Much Money Did This Decision Save?
By avoiding a doomed offer and skipping the winter slowdown, the sellers saved two to three months of carrying costs. With expenses ranging from $2,000 to $4,000 per month, they protected $4,000 to $12,000. In some situations, the savings would be even higher.
The Takeaway From This Case
There are several points you can take away from this case:
- The first offer is not automatically the best.
- Buyer hesitation is readable, and an experienced agent knows how to interpret it.
- The attorney review period is fraught with risks for sellers since buyers can terminate for any reason and get all of their earnest money back.
- Timing outweighs enthusiasm.
- Renting can serve as a smart bridge when a sale would leave you in a bad financial spot.
Success comes from aligning timing, market rhythm, and buyer readiness.
Walking Away Can Be a Power Move
Some offers are not real opportunities. They are impending heartache dressed as smooth sailing. In this case, trusting expert guidance saved the sellers time, money, and leverage. The right offer matters. Timing matters. And the right strategy protects your outcome.
Common Questions Answered
Why do winter listings in Chicago behave differently?
Chicago’s real estate activity slows between mid-December and mid-February. This shift reduces sellers’ leverage and makes buyer commitment more fragile. Understanding the season’s rhythm helps you plan, price, and sequence your sale more effectively.
How can I tell if a buyer has a reliable commitment?
Engagement during showings is one of the clearest indicators. Buyers who show consistent interest and ask forward-looking questions tend to proceed with confidence. Buyers who seek reassurance or appear emotionally split often struggle once attorneys become involved.
What makes attorney review so risky for offers?
Attorney review combines legal caution with post-offer anxiety. Buyers often second-guess their decisions, attorneys identify risks, and inspection items amplify those doubts. When an offer already feels fragile, this stage heightens the chance of termination.
How much does a failed deal actually cost sellers?
A terminated offer costs time, momentum, and positioning. In winter, it can erase months of opportunity and add thousands in carrying costs. Protecting timing can preserve your financial outcome and reduce stress during the process.
Prevent Expensive Mistakes With Experienced Guidance
Walking away is not about being cautious. Sometimes, it’s genuinely in your best interest. Sellers who accept the wrong offer at the wrong moment often lose time, money, and leverage. The right guidance helps you navigate these issues.
Before committing, get a clear assessment of whether an offer will survive attorney review and inspection. Reach out to MG Group for clear advice that can help you make the right decision.
