A Contract on a Home Is Like Being Engaged to Be Married

Today is my wedding anniversary, Andy and I have been married 24 years. When my husband and I became engaged, I still remember a conversation I had with one of his sisters. She said to me: “Now that you are engaged to marry my brother, please stop looking at other guys.” At the time I thought that she was being a bit overly protective, as he was 34, but she clearly didn’t want him to get hurt. This conversation came to mind recently because our office seems to have had more than a normal string of cases of “buyer’s remorse”; that is buyers write a contract on a home and wanting to void as soon as any issue arises.

What my sister-in-law was saying I believe is that even when an engaged couple is in love, if either party continued to look to see if the grass on the other side of the fence is greener, then unhappiness and a “buyer’s remorse” of the marriage partner occurs. In the home buying process, we see this sometimes when buyers continue to look at Internet sites and want to see every house that comes on the market, even though they are in a contractual arrangement with a seller to buy a house. This is a good time to “turn off” the automatic notifications of new listings. There will always be more homes coming on the market, when parties are contractually bound in real estate that is similar to as being engaged to be married; you are committed to that house!

The other instance where we see buyer’s remorse set in is after the home inspection occurs. Home inspectors by the very nature of their job are charged to go through a home with a fine tooth comb. Very few properties, even brand new homes come through a home inspection with a complete bill of health. Just as there are no perfect marriage partners, there are no perfect houses. If one were to pick their partner of choice a part with a fine tooth comb - believe me many flaws would probably be uncovered. This is where having a bit of common sense is helpful. In the case of marriage, it is a good idea to visit with people who have been married awhile to determine if the flaws are reasonable and customary, or if there should be concern as to the partner of choice. In the case of home buying, I recommend listening to an experienced real estate professional as she/he should be able to provide some perspective as to the issues identified. Sometimes additional counsel and discovery is advised, but usually these things work themselves out.

The Huckaby Briscoe Conroy Realty Group has agents that are available to assist in the home buying process in Northern Virginia and the District of Columbia. Please contact us at: Homes@HBCRealtyGroup.com and/or 703-734-0192.

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