My buyer walked on a $4.2M Coral Gables contract because the seller's agent went silent for 11 days during inspection period.
I had told him that silence on the other side of a deal is data, and he finally believed me.
I had told him that silence on the other side of a deal is data, and he finally believed me.
Eleven days of silence during an inspection period is a real problem, and your buyer was right to take it seriously.
Here is what that silence probably meant in practice. The inspection period is the window, usually written into the contract, when the buyer can request repairs, ask for a price reduction, or walk away without penalty. When the seller's agent goes dark during that window, the buyer loses the ability to negotiate in good time. Deadlines pass. The buyer either has to extend the contract (which requires the seller's agreement), waive contingencies they may not want to waive, or do exactly what your buyer did.
The thing worth knowing for next time: silence is not neutral in a transaction. A counterpart who does not communicate during a contingency period is either managing a problem they have not disclosed, waiting out the clock, or simply not doing their job. Any of those three outcomes is relevant to how you advise your client.
At $4.2M, the absolute dollar stakes on every deadline are significant. A one-day miscommunication can cost a buyer a deposit or cost a seller a deal. I would not say with certainty what the silent agent's intent was, since I was not in the room, but the outcome speaks for itself.
If your buyer is still interested in Coral Gables at that price point, the practical question is whether the property comes back to market and under what circumstances. A seller whose agent let a deal die through inattention may be more motivated the second time.
What ended up happening with the property? Did it relist, or is it still technically under contract with someone else?
The risk nobody is pricing here is what happens to the seller's position after that silence breaks. When an agent goes dark for eleven days and the buyer walks, the property re-lists with days-on-market attached to it, and in the $4M+ Coral Gables bracket the buyer pool is small enough that the same qualified buyers who saw it the first time will see the re-list and wonder what the inspection turned up. The seller did not just lose one contract, they handed the market a signal that costs them negotiating leverage on the next offer, often more than whatever concession they were avoiding by going silent in the first place.
The thing worth examining is whether the silence was a strategy or a symptom. Some listing agents go quiet because the seller got cold feet and has not authorized any response, which usually means the seller was already a flight risk and your buyer's walk saved him from a protracted battle over repairs or an extension request at closing. Other times it is a dual-agency situation being managed badly, where the agent has another buyer in the wings and is running out the clock to see if that one materializes. In a contract at $4.2M with a defined inspection period, eleven days of no response does not happen accidentally, so knowing which of those two it was tells you something about whether re-engaging at a lower number makes sense or whether the property itself is the problem. Do you have a read on which one it was?