Shopper’s remorse. Buyer’s remorse. Seller’s remorse. It could happen. Before you even contact a Realtor, list your house, get it looking in its best condition possible and accommodate showings, make sure you indeed want to sell your home!
Once in a while, once an offer arrives, a seller(s) decides that he or she (or they) no longer want to sell. Why list your home if you do not want to move or sell? On the flip side, if you are a buyer, why start looking at properties before you even know if you are approved for a loan, let alone for how much?
I am not one to waste anyone’s time, and with that being said, I respect people’s time, money and efforts. When I spend time, money and our efforts doing my job (bringing buyers/offers for our seller) when people haven’t made sure they indeed want to buy or sell, or finding buyers homes that they ultimately learn they can’t afford, it hurts. That isn’t how I work.
As a seller, you can’t just say later on: “you know what? I decided not to sell my home.” The first and one of the most important things you must do: be absolutely sure you’re ready to sell. The second. Be realistic on price, based on the comps, condition and location. (more of this to follow in another post). Sure a little cold feet may be normal now and again, but don’t let it control you. Remember why you wanted to change your situation to begin with.
To help remove any possible remorse: prepare, prepare, prepare. An offer can arrive right after a showing or randomly one day. Know where you want to move, what type of property you want and roughly how much you would (ideally) want to pay. Since chances are you will be moving someday, start organizing, packing and donating your items and also start researching moving companies and/or storage facilities…in case of a double move.
“But we are not getting the price we want for the home,” says a seller. A property is only worth what a buyer is willing to pay. I say lose “that price” that you are set on and look at what you are spending to live in your current property vs. what you can save in a purchase or downsizing. If you are going to a bigger home or moving to a different location, look at how much more space you will have or why you want to move to a different locale. It is not all about the Benjamins. ($$$)