We Tell it Like It Is

Buyers, be sure you are COMPLETELY ready to take on all of the responsibilities of owning a home before you start house shopping: the mortgage payments and the general upkeep that a home requires (mowing the lawn, maintaining the roof, exterior, furnace, water heater, plumbing, electrical, etc).

Last week, I listed a home for sale in Maplewood. 5 siblings own the house, as their mother passed away last year and they have put a lot of hard work into getting it ready to sell. Within 2 days after the home went up, we surprisingly received a great offer from a young couple. We happily accepted it last Saturday (after my 5 phone calls to the 5 siblings) and praised the heavens for such good fortune and all we had to do is allow the buyers an inspection prior to the sale becoming final. We waited patiently for the inspection to be scheduled and I heard nothing. I finally called the agent on Thurs (the final day left to have the inspection) and he asked for a short extension--the inspector couldn't come until Fri morning. I agreed. Fri morning passed and we waited. And waited. Finally, 3:00 today (Sat), the agent called and said the buyers got cold feet and decided they didn't want the responsibility of owning a home & all the work it entails. So, they cancelled. What these buyers didn't realize is how much effect all of this can have on sellers. These are real people selling a house; getting their hopes up and mentally preparing to finally get on with their lives. Waiting for days only to find out they simply changed their minds like it is no big deal. The buyers move on with their lives unscathed while my sellers feel like they've been run over by a truck; now gun-shy if/when the next offer comes in. :(