Here is the second installation of “Buyer’s Remorse” blog series. Each week we will go into depth on our list of expert tips on how to navigate buyers remorse in the home buying process. Every home buyer will experience “buyer’s remorse” several times on their way to realizing that dream. This blog will help Triangle area home buyers understand what’s happening to them and how to move through Buyer’s Remorse.
2. After the offer is accepted – Your Buyer Specialist calls to say “congratulations the seller accepted your offer.” You are so happy but within 24 hours you start wondering if you paid too much. You loved it yesterday and now you’re not so sure. What is one to do?!
TIP: Don’t let Buyer Remorse fill you with fear and steal your dreams. Pop the champagne and celebrate. Remember, you compared house values each and every time you looked at houses. To get this far into a purchase you are practically an expert on value because of the large number of homes you have compared online and in person. In addition, before writing an offer, your Buyer Specialist would have pulled comparable sales in the neighborhood to show you what other buyers paid. You can trust yourself. Stop doubting and recognize that this is just normal Buyer’s Remorse rearing its ugly head. Whatever you do don’t torment yourself by looking at other houses. Stay off the Internet, it will drive you emotionally crazy.
Just in case you can’t turn off the haunting thoughts remind yourself you have a “value safety net” built into your contract. That safety net is a third party independent appraisal. By contract your house must appraise for the price you were willing to pay or you do not have to buy it.
Six Most Common Times to Expect Buyer’s Remorse
After You Write An Offer After the Offer is Accepted
- After the Home Inspection
- The Final Walk Through
- After You Write the Final Check for Closing Day
- After You Move in to Your New Triangle Home
Come back next week to learn more on how to overcome buyer’s remorse after the home inspection in your Raleigh home!