(Closed) Second thoughts on home offer

posted 6 years ago in Home
Post # 3
Member
886 posts
Busy bee
  • Wedding: November 1999

Can’t say I have house regret at all. But I can totally relate to that out of control feeling. It was awful. There were many virtually sleepless nights for me. The way I see things, the chances of you finding exactly what you want without building it yourself are slim. Nearly every house people buy can’t fit their needs 100%. But you’ll have time on your side to do with it as you please. And, worst case scenario, say they accept your offer now. That doesn’t mean it’ll appraise for that much, or inspect okay. There will still be room for negotiations or to get out of the deal if you word that into your contract. I too am guilty of still looking at houses online out of curiosity. And my search has further cemented my belief that we’ve found the right home for us. I hope you get that feeling too!

Post # 4
Member
505 posts
Busy bee
  • Wedding: July 2013

We put in an offer on a house just like this. It seemed great and had MOST of the things we wanted but I just couldn’t shake the feeling it wasn’t the ONE. We ended up getting out of it and a few weeks later found the house we ended up buying. I love our house now and definitely would have had regrets if we had gotten the first one. If you don’t think it’s the one, don’t get it. You’ll be living there for a while, after all. 🙂

Good luck!

Post # 6
Member
53 posts
Worker bee
  • Wedding: March 2012

My husband and I had seen at least 35-40 houses when we found one in a neighborhood we liked that had some quirks that I didn’t love, but that I thought I could live with. We put in an offer on it and I instantly felt panicked about it. After a couple of counter offers back and forth, we decided to back off instead of accepting the counter offer. We felt awful, but I knew I would never be happy living there even though on paper it was about 80% of what I wanted. We saw about 10 more houses and finally widened our range to put in an offer on a house we really loved. It takes time and it’s intensely frustrating, but don’t settle for a house you don’t like. You should still be able to withdraw your offer if the owner hasn’t accepted it yet.

Post # 7
Member
5797 posts
Bee Keeper
  • Wedding: May 2011

You can still back out. We had an offer accepted on a house and when we did the inspection we both just looked at eachother and knew it was a mistake/money pit. We had to eat the cost of the inspection but we just closed on our (different) house and I am so thankful we listened to our gut.

Post # 8
Member
1138 posts
Bumble bee
  • Wedding: October 2012

I would definitely talk to the realtor and ask them to talk to the seller. I think legally, the seller can still accept your offer, but of course there will still be contingencies on the contract–as the prior poster said, the inspection, maybe financing. You could lose any earnest money deposit and of course the cost of inspection, but better that than be in a house you don’t love. 

Post # 9
Member
134 posts
Blushing bee
  • Wedding: July 2012

@pfizertobe:  Call your realtor and have your offered pulled. If he isnt deciding until tomorrow you still have time to do that. He hasnt signed your offer so have it withdrawn. A house is a big decision and something you should feel 100% about. My husband and I were about to put in an offer on a home earlier this year he liked it I was so unsure about it but there was nothing else we liked. Earlier in the day on a whim we went to an open house that had just come down to our budget. It was still a little expensive but we thought why not. I fell in love from the second I walked in and so did my husband. I am so glad we didnt settle on the other house. We closed a few weeks ago and are so happy. I dont think I would have been as happy in the other house. I am so glad we walked away from it.

Post # 11
Member
9181 posts
Buzzing Beekeeper
  • Wedding: August 2013 - Rocky Mountains USA

Sounds like it resolved itself well.  It’s hard, but try not to just think “Oh this is good enough, I’m tired of looking” and settle for something.  The right place will come along!

Of course, unless you have unlimited resources, you’ll HAVE to settle on some issues and features.  Have you (and your SO if buying together) made a list of your top priorities vs things that would nice but aren’t necessary?  Having that list to go through really helped us sort through our feelings on each house.

Good luck! Hang in there.

Post # 12
Member
10366 posts
Sugar Beekeeper
  • Wedding: September 2010

What are the things it is lacking? Are they cosmetic or structural? Cosmetic is cheaper/easier to add or change. Structural is a money pit. Is it the location you want? That’s the key for me.

ETA: saw that you rejected the counter offer. Congrats on going with your gut 🙂

Post # 14
Member
870 posts
Busy bee
  • Wedding: September 2012

Right after we put in our first offer I freaked out. I was worried about how much money it was, and how far out we were moving, was it really the right place for us. I can’t explain it any more than I just panicked. When the seller’s countered and it looked like maybe the deal wasn’t going to go through I felt a little bit of relief–until we got back out and started looking again. That reminded me why we put the offer in in the first place. We had seen tons of houses and none of them matched up to the place we put the offer in on. Plus we had talked through the finances and the location in great detail before we put the offer in. Really we had prepared ourselves for the house as well as we possibly could, and I think my reaction was the same as the reaction you have when you’re about to get married. You realize that the decision you’re about to make is HUGE and no matter how prepared you are for it it’s normal to wonder about alternatives and other possibilites. 

The good news is we ended up working out the issues with the sellers, we closed about 6 months ago and I LOVE the house and where we’re living. I’m SO glad we didn’t lose the deal, and once we moved in I haven’t had a doubt since!

Post # 15
Member
886 posts
Busy bee
  • Wedding: November 1999

@Taylor4:  Are you me? LOL Same exact process here. We found our future house on just the second day looking. I think it was only the 7th house we saw. We put in a lowball offer. It was countered. They insisted on their asking price. The market here is always strong, so I kind of freaked out and resisted to counter again. We went out looking some more the next day. Realized there was absolutely nothing else out there that was right for us right now and gave a more realistic offer which was accepted. Our realtor made sure to word the contract such that we could still back out if the property was worth 97% or less of what we were offering, so it was a win-win for us. It appraised for a lot more than our agreed upon price. So strange things can happen in this process. Go with your gut. But just make sure you go out and see a lot to make sure what you end up with is the right, or one of the right, homes for you!

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