Buyers Remorse? – This week I’m blogging about why deals can fall apart based on my observations and experiences over the last 20 years!
In the morning reality starts to set in when buyers start worrying about all of the things that can come up during home ownership. Is the wiring outdated? Will the roof make it another 10 years? Will the cars fit in the garage with all the lawn equipment? Do the neighbors have dogs that bark at all hours? Is the foundation bad, etc., etc. I often hear homebuyers say, “What was I thinking?” after they recognize all the obvious problems they ignored when signing a purchase contract. That is why you hire an experienced Realtor! A Realtor will advise you and represent your best interest through out this process. Purchase contracts for residential real estate usually have an exit clause or contingency if the home inspection reveals unsatisfactory conditions, at that time your realtor will work with the sellers agent to reach a mutual agreement by all parties.
There are times when the buyers often claim the home inspection is the reason for killing the deal, when in truth there are other factors at play. We strongly encourage our buyers to take their time, sleep on it, get estimates on all repairs and make an educated decision before making a decision to walk away. Inspections can be costly and at times, a buyer can walk away over something that is equivalent to the cost they already have into inspections. When looking for a home, a buyer should have a list of priorities (or a list of things to avoid) to follow before offering to purchase a home. This might help save all parties involved time, money and excuses and hurt feelings after a seller loses time on the market.
Please listen to the advice of your Realtor. If you are working with an experienced Realtor, we see a lot everyday and always have your best interest in mind.
Tune in to The Rick and Tracy Ellis Show on 97.1 FM News Talk Saturdays at 4:00 PM & Sundays at 10:00 AM