Why I Just Talked You Out of the House
You Wanted to Buy
You and I have been looking at lots of homes in the Spruce Grove, Stony Plain, Parkland County and Edmonton region, and we finally found one that you decided was just right. You know I’ll work hard to get you into the house of your dreams so why am I suddenly throwing cold water on your enthusiasm?
There are several reasons why I might suggest to clients that they step away from a deal:
- I think the asking price is much too high for the condition and location of the property, and it appears that the sellers are not willing to negotiate a more reasonable price. New listings come on the market all the time and I’m sure we can find another property that meets your requirements without forcing you to over-pay.
- The property inspection report turned up some fairly major structural damage. It’s not unusual for inspections to reveal all kinds of items needing attention and repair, especially in homes with a bit of experience, but generally these are cosmetic items that are easily remedied. Sometimes sellers can even be persuaded to lower the selling price by a few thousand dollars to cover the cost of attending to these. But when the number of these items becomes too great, or when there is an unexpected major issue, such as a roof in imminent danger of collapse, or a foundation weakened by severe water damage and the like, it may be time to walk away.
- Your personal situation has suddenly changed. Maybe you lost your job; there’s been a serious illness or even death in the family; family dynamics have changed (marriage breakdown, an elderly parent moving in, etc.); money you’d earmarked for the home purchase is no longer available…. Let’s put the house-hunting on hold until your life is back on track.
- To put it diplomatically, I think your eyes are bigger than your stomach, financially speaking. I’ve gotten to know a bit about your financial situation, and the time may not be right for you to jump into home ownership, or at least not a home as expensive as the ones we’ve been looking at. Your debt load may be a bit too high, your credit may be shaky, you may not have considered the large number of costs associated with home ownership, such as legal fees, insurance, taxes, moving expenses, home maintenance costs and the like. I want you to be happy with your purchase without worrying about how you will be able to pay for it over time and without compromising your standard of living.
Yes, my business is helping people buy and sell homes, but I like to emphasize the “helping” part! Sometimes that means saying no.