That’s right. Sellers remorse is a real thing! Just like buyers get nervous about purchasing a new home, sellers can have second thoughts about selling their beloved home! The reason most feel sellers remorse is because they weren’t 100% invested in selling their home in the first place. This can be because they feel they need to sell their home, but they don’t necessarily have a good reason to sell.
Definition of sellers remorse: Seller decided it was a mistake to sell and no longer has the desire to sell their house. This isn’t always a bad thing, unless you’ve hired an agent. A real estate agent spends time and money to advertise for you, and if you decide to not sell, there is no return on that. This is a huge reason to make sure that you definitely want to sell.
Photo Credit: DavidDubov on flickr
Here are some tips to help prevent sellers remorse:
– Make a Pro’s and Con’s list to see if the benefits outweigh the drawbacks of selling.
– If you are worried about finding a replacement home, draw up a contingent contract, so that you have time to find a home, and if that home is not found, you are not obligated to sell to the buyer.
– Once you have decided to sell, hire a realtor to help you plan for the future and go over different options.
Reasons to be set on selling especially when it comes to closing time:
Some sellers get cold feet when it comes down to closing, which can be very bad for both the buyer and seller.
– There are few court cases that have been pursued against a seller, and most of the time the seller will not be forced to sell even if it is pursued.
– Even if that is the case, the buyer can still sue the seller for right to damages.
– On top of that, the broker will have been making a commission off of the sell, and will most likely demand that payment.
So before you list your house, go through all the ins and outs and make sure this is a decision you are willing to follow through with.