In real estate, things rarely go as smoothly as anyone hopes. Properties can bounce from listing to contract and right back again – if a deal falls through, you’ll see a home marked as BOM. BOM, or “Back on Market,” just means the place was under contract but is now up for grabs again.
Naturally, people wonder why a deal fizzled out – does it mean something’s wrong with the house? Often, it’s not about the property itself. Financing or lender approval snags, failed contingencies, or a buyer’s sudden change of heart are usually to blame.
Knowing what BOM means can help potential buyers spot hidden gems and sellers figure out how to regroup. If you’re in the thick of a real estate transaction, understanding BOM and why it happens gives you a leg up.
What Does BOM (Back On Market) Mean In Real Estate?
Sometimes, you’ll notice a property reappearing in the listings after it seemed spoken for. That shift in status tells a story about failed deals and renewed chances.
Back On Market (BOM) is an official status in the Multiple Listing Service (MLS) for a property that is available again after a signed contract fell through. This means an accepted offer didn’t make it to closing, putting the home back in play for the next round of buyers.
While buyers might wonder what went wrong, a BOM status doesn’t automatically mean the house is a lemon. The issue is often related to the buyer, such as financing falling apart, a tough inspection negotiation, or simply a change of heart.
How BOM Differs From Other Listing Statuses
BOM isn’t like the other statuses you’ll see. It’s specifically about a failed deal – not just a fresh listing or a property under consideration.
Knowing these distinctions helps buyers and sellers read the room. A BOM label might make buyers pause, while a pending status means slim pickings.
The real difference? BOM carries the baggage of a deal that didn’t close. The rest don’t come with that backstory.
Active
An Active listing is the baseline: the property’s available, no accepted offers, and anyone can jump in.
Buyers can book a showing, make an offer, or start negotiating. This is the wide-open window of opportunity.
Active doesn’t mean there’s been a failed deal. It’s just a clean slate.
Pending
Pending means the seller accepted an offer and things are moving toward closing. No new offers, usually.
The house is technically still listed, but unless the deal tanks, it’s off-limits. This is the last lap – just paperwork and final checks.
If the sale falls apart, that’s when it might flip to BOM. You can see how these statuses connect.
Under Contract
Under Contract means both parties agreed, but there are still hoops to jump through – like inspections or financing.
It’s not a done deal, but the seller’s committed. Sometimes, backup offers are welcome, just in case.
If those contingencies don’t work out, the property might pop up as BOM, and the cycle starts again.
Active Contingent
Active Contingent says the seller accepted an offer, but it’s conditional. Maybe the buyer needs to sell their own house, or the inspection isn’t done yet.
The home’s still technically active, so other buyers can express interest. But the original buyer is first in line as long as their conditions are in play.
If things fall through, it becomes BOM. There’s a bit more wiggle room here than with pending.
Temporarily Off Market (TOM)
A Temporarily Off Market (TOM) status is a different story. No failed deal – just a pause.
Maybe the seller needs to make repairs, or life got in the way. Once things settle, the listing goes active again.
TOM doesn’t hint at any transactional drama. Just a break, nothing more.
Expired
An Expired listing means the property didn’t sell during the agreed listing period. Once expired, it’s off the MLS.
Sellers can relist, drop the price, or switch agents to try again. Expired doesn’t mean unsellable – just that time ran out.
It’s not the same as BOM, since there wasn’t a failed contract. If it’s relisted, it usually goes back to active, not BOM.
Real Estate Listing Statuses at a Glance
| Real Estate Listing Status | What It Means |
| Active | The property is available and has no accepted offers. |
| Back on Market (BOM) | The property was under contract but is now available again because the deal fell through. |
| Pending | The seller has an accepted offer and is moving toward closing. |
| Under Contract | An offer has been accepted, but there are still contingencies (like inspection or financing) that must be met. |
| Active Contingent | An offer has been accepted, but the home is still technically “active” because of a specific condition that needs to be met (e.g., buyer’s home sale). |
| Temporarily Off Market (TOM) | The property is not available for showings or offers, usually for a seller-related reason. |
| Expired | The property’s listing period has ended without a sale. |
Why Do Properties Go Back On Market? Common Reasons For A Deal Falling Through
A home can boomerang back to the market for all sorts of reasons. Financing snags, inspection surprises, appraisal gaps, legal messes, or a buyer’s sudden change of plans – any of these can derail a sale.
Buyer Financing Issues
Financing is a classic troublemaker. Even with pre-approval, a buyer’s loan can get nixed if their financial picture changes – lost job, new debt, or a credit dip.
Sometimes lenders tighten up their requirements at the last minute. If the buyer’s debt-to-income ratio doesn’t cut it, the deal’s dead in the water.
Updegraff Group points out that mortgage hiccups are a leading cause of failed sales. Sellers often ask for solid proof of funds for this very reason.
Home Inspection Concerns And Repair Negotiations
Inspections can reveal all kinds of headaches – bad wiring, leaky pipes, or structural issues. Even small stuff can spark tough negotiations if buyers want repairs or credits.
If sellers aren’t willing to budge, buyers might walk. Big-ticket problems like a failing roof or water damage can be deal breakers.
Bankrate notes that inspection disputes are a common contract killer. Buyers want compensation for major repairs, but sellers don’t always agree, and sometimes nobody wins.
Low Appraisal Valuation
If the appraisal comes in low, lenders won’t finance the full price. Suddenly, there’s a gap between what the buyer can borrow and what the seller wants.
Some buyers pay the difference, but not everyone can swing it. If no one budges, the deal falls apart.
Realtor.com says low appraisals are especially common when buyers bid up prices in a hot market. No new deal? The home goes back to active.
Buyer’s Change Of Heart Or Remorse
Sometimes buyers just get cold feet. Maybe they rethink their finances, feel overwhelmed, or spot a better house elsewhere.
This usually happens during the contingency period, when buyers can back out without losing much. Emotional stuff – like second thoughts about moving – can be a factor too.
Wellington Home Team points out that buyer’s remorse is about the person, not the property.
Title Or Legal Problems With The Property
Title issues can kill a deal fast. Unpaid liens, boundary disputes, or paperwork mistakes all have to be fixed before closing.
If the seller can’t clear things up, buyers bail. Legal messes – inheritance, divorce, ownership squabbles – make lenders nervous.
Maximum Real Estate Exposure notes buyers expect a clean title. If legal problems pop up, the home’s likely headed back to market.
Other Buyer-Side Difficulties (e.g., Co-op Board Rejection, Job Loss)
Co-op deals are their own beast. Buyers need board approval, and boards can say no for all sorts of reasons – money, background, or just a gut feeling.
A lost job during escrow can also blow up financing, even if the mortgage was already lined up.
Kelly Wilen Real Estate says financial curveballs like these are major deal-breakers. Sellers can’t control them, but they still wind up with a BOM listing.
When A Seller Puts A House Back On Market (Seller’s Reasons)
Sometimes it’s the seller who pulls the plug. Maybe inspection demands or closing dates don’t work for them.
Life happens – job moves get delayed, family stuff comes up, or they decide to rent instead. Sometimes sellers rethink the price and pull the listing to relist higher.
ActiveRain notes that a failed deal can be a chance for the seller to tweak their strategy – fix things, stage better, or adjust the price.
For Buyers: Opportunities And Essential Considerations For BOM Listings
When a home comes back on the market, buyers get a fresh shot – but it’s not always a slam dunk. There’s opportunity, but you’ve got to keep your eyes open for red flags.
The “Second Chance” Advantage: Re-Evaluating Desired Properties
A BOM listing can be a lucky break if you missed out on a property the first time. It’s a second chance to reconsider a home that fits your checklist, often with less competition and pressure since the initial hype has faded. Sellers may also be more motivated after a deal falls through, which can create more room for negotiation on price or terms.
Critical Due Diligence For BOM Properties
Of course, not every BOM is a hidden gem. Buyers need to dig in and find out what went wrong the first time.
Was it a bad inspection, a low appraisal, or a buyer who couldn’t get a loan? Some issues are minor, others not so much. Ask for every disclosure you can get, and decide if you’re comfortable with the property’s history.
Check the bigger picture, too. If a home keeps going BOM, that’s a warning sign – maybe there are deeper problems, like repairs that never get done or tricky title issues.
A quick checklist helps:
- Review inspection reports from the seller.
- Double-check financing options with your lender.
- Look into title and legal status for any weirdness.
- Scope out neighborhood trends for future resale.
How To Obtain Information On Why A Deal Fell Through
To figure out why a property is back on the market, your best bet is to ask the listing agent, as they should know what happened with the previous contract. You should also ask for any written disclosures from the seller, which may reveal inspection results or known defects.
Leveraging Your Buyer’s Agent Effectively
A good buyer’s agent is crucial when you’re eyeing BOM (Back on Market) listings. They have access to info you won’t find just poking around online, like private notes in the MLS.
Understanding Potential For Negotiation
BOM homes often open the door for negotiation. Sellers, after all, are hoping not to lose another deal – especially if the place has been sitting for a while.
For Sellers: Strategies When Your Home Returns To Market
If your home’s back on the market, it’s time to regroup. You might need to rethink your price, freshen up the listing, or tackle whatever tripped up the last deal. How you handle updates and communication can really shape what happens next.
Reassessing Your Pricing And Marketing Strategy
When buyers spot a home back on the market, they’ll wonder why – so pricing is even more important. If you started off too high, now’s your chance to get competitive. Overpricing just drags things out and turns off serious folks.
Refreshing Your Listing: Photos, Description, And Staging
Buyers notice when a listing looks exactly the same as last time. Swapping out photos – maybe with a new angle, better lighting, or a seasonal touch – can make it feel new again.
Addressing Issues Identified In The Previous Deal
A lot of deals fall apart over inspection findings, financing, or appraisal hiccups. If repairs came up, get them done before relisting. Buyers will notice and appreciate the effort.
Managing MLS Status Changes: From “In-Contract” To “Active”
Once a contract falls through, update the MLS status right away. Keeping things accurate avoids confusion and makes sure buyers actually see your listing.
Communicating Transparently With Prospective Buyers
Buyers want to know why your place is back on the market. Be upfront. Saying the last buyer’s financing fell apart is a lot better than leaving folks guessing.