Anyone ever felt they had signed a contract on the wrong house? (incentive, condo)

[btfly]

And if so did u still go through with it anyway?

[Lacerta]

Pretty vague question... I think most people feel that way at some point in the process, when they get frustrated about something, sort of like a woman in labor who suddenly decides she doesn't want to have this kid after all.

Anyway, if this is just a poll, then my answer is not really, but my only house was a custom build, so it was the house I wanted in the location I chose.

If you are looking for advice, you need to give some basic information.

Why do you feel like you signed on the wrong house?

Were you debating between 2, picked one and then are second guessing yourself?

Do you not feel you got the best deal you could have?

Was something discovered wrong with the house after your offer was accepted?

Did you decide you don't like the neighborhood?

Did you decide you don't like the schools?

Did you decide you don't like the paint colors?

Did you find another house after your offer was accepted and wish you could make an offer on the new one?

Did you decide you can't really afford the house after all?

etc..etc..etc..


Obviously, some of those things are a much bigger deal than others. The answers you are going to get will be even more varied than this list, as this is just what I can think of off the cuff.

[Mike Peterson]

When I first read this I thought that maybe they put the wrong legal description on the contract and they signed for the house next door to the one they wanted.

I have heard of this happening a couple of times in newer subdivisions.

[Lacerta]

Originally Posted by Mike Peterson

When I first read this I thought that maybe they put the wrong legal description on the contract and they signed for the house next door to the one they wanted.

I have heard of this happening a couple of times in newer subdivisions.

Ooh, there was a post on the boards here one day about a guy who bought a condo that was ...ugh..., fixed it up really nice, then found out he really had bought the one across the hall, which was even more ...ugh... and he was out all the remodeling costs, and was being kicked out into the dump across the hall. I don't understand how exactly that happens, but it does.

[Silverfall]

I was thinking the OP was talking about buyer's remorse.

[chet everett]

It is called "buyers remorse" and happens in a rather large number of cases. Generally the "excitement phase" of shopping and hoping and everything else leaves people at least a little emotionally worn out. When they get things signed the "what have I gotten myself into" feelings bubble to the surface.

If you can remain rational and analyze things with a detached view it is likely these feelings will pass and everything will go smoothly.

[btfly]

Originally Posted by Lacerta

Pretty vague question... I think most people feel that way at some point in the process, when they get frustrated about something, sort of like a woman in labor who suddenly decides she doesn't want to have this kid after all.

Anyway, if this is just a poll, then my answer is not really, but my only house was a custom build, so it was the house I wanted in the location I chose.

If you are looking for advice, you need to give some basic information.

Why do you feel like you signed on the wrong house?

Were you debating between 2, picked one and then are second guessing yourself?

Do you not feel you got the best deal you could have?

Was something discovered wrong with the house after your offer was accepted?

Did you decide you don't like the neighborhood?

Did you decide you don't like the schools?

Did you decide you don't like the paint colors?

Did you find another house after your offer was accepted and wish you could make an offer on the new one?

Did you decide you can't really afford the house after all?

etc..etc..etc..


Obviously, some of those things are a much bigger deal than others. The answers you are going to get will be even more varied than this list, as this is just what I can think of off the cuff.

Pretty much.

Hubby has mobility problems. We looked for over a year, and finally went for a house that kind of works for us.

We're trying to be settled in a house before school starts back in August.

The day after a contract was signed, a house that works better for us came on the market.

[btfly]

At this stage (inspection just done), would it be legally possibly to let the owners have the earnest money without any recourse.

I feel terribly bad for possibly doing this to this family. I thought about making lots of odd requests due to the inspection and having the owners just try to give up on it, but I would feel a little better by giving them the earnest money ($1000) and telling them the truth.

[SadieLu]

Originally Posted by btfly

At this stage (inspection just done), would it be legally possibly to let the owners have the earnest money without any recourse.

I feel terribly bad for possibly doing this to this family. I thought about making lots of odd requests due to the inspection and having the owners just try to give up on it, but I would feel a little better by giving them the earnest money ($1000) and telling them the truth.

Hmmm...I thought that was the purpose of 'earnest money'...an incentive to keep the buyers on course but a bonus for the sellers if the deal falls through? If so, then I would say if the other house is really a better home for you it would be worth losing the $1K ( and the inspcection cost, I guess). I don't think the sellers could sue you or anything like that but maybe others know better?

[2bindenver]

I would put in an offer on the 2nd house and if accepted, terminate the contact on the first with a release of the earnest money to the seller. Explain what you have told us. Wish them luck and keep going.