Combat Buyer's Remorse

Dated: February 18 2023

Views: 14

Combat Buyer's Remorse

So you did your research, you looked at model homes, you investigated neighborhoods and school districts, you made an offer, and—voila!—you’re a homeowner! This should be one of the happiest days of your life…so why do you feel like driving off a cliff ala Thelma and Louise?

Well, it’s called buyer’s remorse, and it’s as universal as the common cold. So take a deep breath, do a few yoga poses and relax. It’s going to be okay. Everyone goes through it. Statistics are on your side: 74 percent of first-time buyers say they like their new home better than their previous residence, and 67 percent of repeat buyers like theirs better.

And anyway, you legally have three days to change your mind and cancel the contract. Right?

Wrong! No such law exists. The only way you can cancel the contract is if cancellation rights are written in the contract. Generally, a buyer can cancel only for failure to qualify for mortgage financing after a diligent and good-faith effort, or based on the reasonable disapproval of some aspect of the home.

The best way to prevent (or at least mitigate) buyer’s remorse is to prepare yourself in advance, long before you ever sign on the dotted line. Write out the pros and cons. Do your homework. Then relax and enjoy your new home.

Work with me

No sale is more important than my clients' satisfaction. I've heard the same horror stories you have about pushy agents sweeping problems under the rug, but you'll find no such behavior from me. Not only will I fight for the integrity of the sale (and I always encourage my clients to address every problem that we know of - even if it means fixing it myself, or taking the repair off the cost of the home at the beginning. Nothing looks worse to a would-be buyer than finding a problem that should have been known about after the offer is made), but I think the opportunity for the buyer to find those deal breakers is one of the most powerful negotiating tools we have... or best reasons to walk away. Sometimes there are problems that are too big to "just live with" or pay for - I encourage you to find those problems and listen to your gut. If you're the seller, it might be the difference between languishing on the market for years, and if you're the buyer, getting stuck in a house (or overpaying, God forbid) for something you don't love.

I would rather put in 10-hour days driving all over town, like I did for Kevin and Phoenix when they were shopping for their first home in PDX (relocating from Las Vegas), and wound up in their DREAM HOME in Scappoose!!!

Let me help you filter through the frenzy, and guarantee you get the most cash in your pocket, and/or move into the home of your dreams!


Blog author image

Adam Davis

Whether the adventures you're after are outdoors or culinary, tech, trade, or retirement, the Pacific Northwest has it all. I live here because I love it here, and aim to provide the heightened level ....

Latest Blog Posts

Six Bathroom Design Staples and Trends I Loved in 2022 that will Transform Your Space in 2023

When I’m touring homes and preparing my listings to take to market in Lake Oswego, West Linn, Bend, and Wine Country, I'm always on the lookout for the latest trends; bathroom design is one of

Read More

Oregon Wine Country: Explained

If you are a wine enthusiast, then you probably know about the Napa Valley or the Sonoma County. But have you ever heard of Oregon Wine Country? Oregon is a state located in the Pacific Northwest

Read More

March 2023 Market Update

Welcome to March! At the end of February, the inventory in months stood at 2.3, meaning it would take 2.3 months for all the homes on the market to be sold at the current rate of sales. This is a

Read More

Combat Buyer's Remorse

Combat Buyer's Remorse So you did your research, you looked at model homes, you investigated neighborhoods and school districts, you made an offer, and—voila!—you’re a homeowner!

Read More