CHAPTER 13 Doubts? You Can Walk Away
As mentioned at the end of the last chapter, sometimes buyers walk away from a home sale before it goes through. If you have doubts, you too have the option of walking away from a potential home purchase agreement. Just because you’ve shown interest in what you thought was the perfect home, found a home loan and locked in a mortgage rate, made an offer, had the offer accepted, doesn’t mean you can’t still say “no” if the situation warrants. These things happen, and you need to understand that if the home you thought was right for you turns out to be all wrong for you, you don’t need to feel pressured into going through with the sale just because you’re “in too deep” or you’ve “gone too far” or you’ve “taken all this time.” Perhaps something has gone terribly wrong, such as during the negotiation process or through the results of the home inspection, or maybe you’re simply having second thoughts, or you’ve stumbled upon another house that better meets your needs. Whatever the reason, don’t be afraid to walk way if you need to. You don’t want to get cold feet when it’s too late. It’s far better to get out now than to have regrets later and end up stuck in a home that you don’t really want or can’t really afford. Professionals say that buyers should back out of their deals if they can’t buy the house they want, on the conditions they want, for the money they have. This also applies to you. Deals fall apart near the end for a multitude of reasons, including financing falling through, a low-rated home appraisal, and a home inspection that uncovers hidden problems or issues that affect or
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