It happens too often. We buy an item; a dress, a suit, a tool, or shoes. We get home and start to think twice. Before you know it, we’re making a trip back to the store to return it.
When you decide to buy a home, buyer’s remorse isn’t so simple to resolve.
“Let’s say you and your Realtor have toured 15 homes; you walk into the 16th one and you say to yourself, ‘This is it!’ You make an offer and a deposit. It’s accepted and you’re officially under contract.
Now you start to get cold feet. You begin to think about the commute to work being longer. Taking your children out of their current school district. Maybe the space is smaller or larger than you wanted so you call your agent and say, ‘Never mind, I changed my mind.’ Can you just have a change of heart? Can you get your deposit back? Can you just walk away?
When your contract has been ratified, meaning accepted by the seller, you can’t just return the house like you could a pair of shoes. For instance, when buying homes in SC, if your contract has been ratified, every last initial and signature being completed by you means you are in a legally binding contract. If you decide you no longer want the home, you can find yourself in legal trouble. You could be forced to perform, that is forced to buy the home as you initially offered to do, especially if the home was being purchased with cash, and not contingent upon financing.
Thanks Ariana Loucas for the article.
This is why you want the best agent to represent you during the buying process. Give me a call and I am looking forward to working with you.
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