My wonderful out of state client bought a condo in one of the nicest condo buildings in Daytona Beach Shores, and he likes it so much that he tells his friends and relatives about the opportunities.
He thinks that the time is right and this makes a lot of sense to buy the most beautiful condos for half of their price. Which makes two of us.
He calls me and tells me that he is bringing his relatives to stay with him for a few days and they want to buy a condo like his.
Well, they have never been here, so this does sound strange, but they are relatives, so maybe relatives follow each other...
They come, we spend 3 days showing condos going to see the units multiple times from early in the morning to late in the evening, and then the whole routine again, and then next day again…
There are a few excellent buys and Buyers are hesitating which they like more. They are not as keen in real estate as my client, and all three days they keep asking the same questions, and I keep explaining the same thing again and again. The condo living concept is foreign to them and it takes time to digest, which is fine with me.
Finally they decide on a particular unit, I write the offer, and they sign it, give me a check for $10,000, and from the office go straight to the airport. It is Sunday, so I am not in a rush to forward it to the Listing agent.
Three hours later I receive a call from the Buyer. They just landed, and he is in a rush to tell me that he is cancelling the contract.
Well, this was not the first time I witness the Buyer’s remorse, but I really love the explanation, which I was not soliciting. He said it was because they did not have enough money to purchase.
Few hours ago they had enough money (all cash transaction), and then in 3 hours they are poor….
Hmm, the only good explanation is that they stopped in Atlanta and went to eat at Nathan’s and their hotdog made them from rich to poor.
Freaking $450,000 hotdog
* Photo via Flickr.com Creative Commons License by TheBusyBrain