Oh Yes! Oh No! Our Offer's Been Accepted

By
Real Estate Agent with RE/MAX Destiny Real Estate Cambridge, MA

I have to admit I'm a bit of an impulse buyer when it comes to real estate.  Every time I've purchased a property it happened on the fly - very quickly, often with other bidders in the wings.  I know what I like and I tend to move quickly.

The first house I bought already had two offers by the time I saw it so I spent only a few pressured moments in the house before I went back to the office with the real estate agent to write an offer. I went to the home inspection with only a fuzzy idea of what the house looked like and hoped that I would like love it as much as I did in those few minutes.  I did - I love it still.

The next time I bought real estate I had become a real estate agent in Cambridge.  I took a first-time buyer out to see condominiums.  She didn't like what she saw but one of the condos we visited looked like a great deal to me.  Like many prospective buyers the condo appealed to me because it had what my current home didn't - most importantly in-unit laundry and parking.  Though I had been in the condo for only a few minutes the next day, just 15 minutes before offers were due, I hurriedly wrote out an offer and faxed it off.  I can remember jumping into my car afterward and thinking "What did I just do?" as I drove. Well, I had bought a condo as it turned out. My offer, one of six, was accepted by the seller.

Buyer's RemorseSo I'm very familiar with the uncertainty that often washes over you after you get the call that your offer to buy a house or condo has been accepted.  In successive waves, elation is very quickly replaced with uncertainty.  Did we do the right thing?  Is this really the right place?  Do I really like the house?  Is this the right condo for us? Is there a closet in that second bedroom? Will we be sorry?

I always caution buyers when I call with the happy news that for at least a day or so they may be plagued with fear, doubt and insecurity to varying degrees. It's a seemingly inevitable, mild case of buyer's remorse - or at least a case of buyer's uncertainty.  But it will pass.  Almost always your initial instincts were on target.  The house is right - just like you thought it was. 

Your next visit is likely to be a long one as you have the home inspected.  It's not uncommon to think as you drive to the inspection, "Will we like it as much as we thought we did?"  For me, in every case the answer was yes.  When I walked in all of the features that called out to me still did - this will be my home. Phew.

And as long as whatever bad news the inspector has to deliver is outweighed by the positives you'll be well on your way to becoming the new owner.  Congratulations!

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Rainmaker
599,425
Sandy Shores Broker, Melbourne FL
Brevard County FL Real Estate
M & M Realty of Brevard Inc.

Elizabeth, Oh in the past we have seen buyer's remorse too often here in our area. Today, it seems that with the short sales on the market, by the time a buyer finds out he FINALLY got the house, he's ready.

March 31, 2009 01:49 PM
Rainmaker
341,413
Elizabeth Bolton
Cambridge MA Realtor
RE/MAX Destiny Real Estate Cambridge, MA

Hi Sandy ~ That's an interesting twist.  I guess it's more valuable to you when you really have to work to get it. The take-away method or whatever it's called.

Liz

March 31, 2009 04:55 PM
Rainmaker
236,199
Roger Johnson
Realtor - Hickory NC Real Estate
CENTURY 21 American Homes

Hey Liz, sometimes, us "old pros" at home buying (and selling) forget about that 1st time home buyer fear.  Your post brought back memories of my very first home buying experience.  I was playing hard-ball on the offers, knowing that the seller had two houses (and payments) and my wife was constantly saying, "you're going to make us lose the house!"  When the came back with a 'yes, we'll take it,' it was me then saying, "oh, crap!  They accepted.  Now what?"

It doesn't hurt for us to be reminded, too.  thanks.

March 31, 2009 08:04 PM
Rainmaker
341,413
Elizabeth Bolton
Cambridge MA Realtor
RE/MAX Destiny Real Estate Cambridge, MA

Hi Roger ~ That's a great story. My mother still regrets one house that they lost decades ago because their counter was rejected. Probably good for your marriage that your offer was accepted!

Liz

March 31, 2009 10:13 PM
Rainmaker
411,298
Betina Foreman
Realtor, C.N.E. Selling Homes in Lake Travis & Central Austin!
512-771-6318 Austin Home Girls Realty

I have never had Buyers Remorse, only Sellers remorse... This is one of the reasons I like working with Buyers, they are thrilled to have their first real HOME! Yeah!!

April 01, 2009 04:54 PM
Anonymous
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Rainmaker
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Elizabeth Bolton

Cambridge MA Realtor
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