It happened. I’d hoped it wouldn’t happen, but it happened.
I had a buyer back out of the deal yesterday one day before the contract had to be done. They said a couple times in the last week, “I give up,” “Let the other offer take it,” and “I quit.”
Every time they wanted to jump ship, I sat with them, and helped weigh their options, and showed how we could make it easy to get the job done. I found a new lender and set them up. I helped go through documents to send to the lender. I drove to their house to pick up documents which I took to the office to scan because the buyer couldn’t send them properly.
Then, the morning of the home inspection, the buyer threw in the towel. Walking through the house that was going to be theirs, they started to focus on things like peeling paint and little stuff. And they seemed to be forgetting that we found a cottage that is walking distance to the Atlantic Ocean at a price 1/3 under market value of comparable homes. Fear of the unknown caused the buyer to throw in the towel.
I felt like I failed the buyer AND the seller agent, who happens to be a good friend. I was feeling like a fool when my friend called me a few minutes later. Here’s what she reminded me of:
People get cold feet. It happens.
No matter the level of care we give, or the data you provide, there will always be some whose gut will tell them it’s not the right time. And it wasn’t. It wasn’t the right time for this buyer.
That’s a pretty amazing friend, right? She’s a rockstar agent, and I love that she knows what I need to hear when I need it. I like to be that friend for my clients too.
Buying a home is one of the largest purchases we make, and there will be feelings of “did I do the right thing?” Heck, in this market, it’s more like, “My offer was accepted??? Did I offer too much?? What’s wrong with the house?”
Go with your gut. Get help from your agent or real estate professional, and stay focused on the steps rather than get nervous about the whole picture. We’re here to help you.
So hang in there. It’s only life.