REASON 1 why deals fall apart!
Why Deals Fall Apart: Over the next week I’ll be blogging about why some deals can fall apart! I’m going to discuss some reasons homebuyers choose to walk away from purchase contracts based on my observations and first-hand experiences. The reasons aren’t necessarily provided in order. I’ve personally been involved in many real estate transactions over the last 20 years in business. I know many people will think it’s the result of an overzealous home inspector planting seeds of fear into the minds of apprehensive homebuyers as some might have others believe, but that’s not always the case.
In this low inventory market, many times buyers buy impulsively because we all want what everyone else wants, right. There are times when there are multiple offers and buyers will push the limits to get the house and then once they have it, they aren’t sure if they want it. They get caught up in the moment or they fall in love with a house because it has character, is in a desirable neighborhood, has a lot of “potential”, and/or has appealing features such as a modern kitchen, large master suite or gorgeous view. Unfortunately, falling in love with a house can be like falling in love with the wrong person.
When we fall in love on impulse we have a tendency to ignore or minimize problems, which affects our ability to make rational decisions. After a good nights sleep, buyers look at things a lot different and buyers remorse can set in. This is very normal and I hope you’re working with a great Realtor to coach you through the process and offer suggestions to assure you why you made the right decision.
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