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We made an offer on a house a month ago which was rejected. They lowered the price and we made another offer and received a counter offer, which we told our realtor we would be accepting, so she wrote it up. I'm sitting here looking at it and I'm panicking and just don't think I can do it. Some financial realities have hit me, things I thought I was okay with, and I don't know if I feel it is worth it to me to move right now. I'm thinking of not signing it, calling and telling her I can't do it.
Obviously no one here knows me, but is it normal to feel this scared and worried? I feel that I should be excited, as we love the house, but I don't feel good at all. Our realtor has been wonderful, and I feel terrible about the idea of telling her we aren't going to do it, though I know that is not a reason to buy a house, and I'm embarrassed to be so flaky.
It's your decision. If you really don't feel this is right for you, better to back off now before you're committed with a contract. Suggest you talk it over with your agent to give her a chance to address your concerns.
As a buyer, I can assure you it is perfectly normal to be nervous. It all boils down to the reasons why you want to move, do you love the house and can you really afford it? I walked away from a couple and have regretted it terribly and on the other hand made offers on homes I shouldn't have just to get it all overwith. Fortunately, they were rejected. If you really are cutting it too close financially you should walk away. Nothing worse than being house poor. Otherwise, regroup, make your list of pros & cons and make an informed/educated decision. It's huge...I get it.
Today I received the dreaded "highest & best" request on a foreclosure. I offered over asking (just a little) and was sure it was mine but alas...not quite yet, (story of my life!) I was a nervous wreck all day trying to figure out if my offer really was the best they got but they're just fishing for a little more or.....if I just up it somewhat I'll lock it in for sure. So I pondered and offered up my ObamaBucks! What the heck.....it's "free"! I added $6500 to my initial offer and am hoping for the best.
Good luck in whatever you decide. I'm sure your realtor will be disappointed if you change your mind but I assure you it wont be the first time and if she's a professional, she'll understand.
Honestly as an agent I don't do buyer's remorse. If a buyer is too nervous we don't sign offers. Many buyers are slightly anxious because it is a big deal, but you should not have overwhelming feelings of dread.
You don't sound like you are ready to buy right now. It's okay. When you are give your agent a call and get the process started again.
I always get really nervous right before making a huge decision, like buying a house. Sometimes it's rational, sometimes it's not.
So, are you nervous just because you're making a big change? Or, are you nervous because you're doing something that makes you uncomfortable, like buying more than you can comfortably afford?
I had a single guy who could never commit or be comfortable with his decisions. It took him 3 years to buy a home.
Go with your gut feel on what's best for you, but buyers remorse is a common term and fear in our business. When I have a client like you, I buy them a big ole box of chocolate (M&M's work well) and after they've devoured some chocolate sedative they usually feel better about their decisions.
If the M&M's don't work, then maybe you need to wait awhile on your purchase. Don't worry about being Flaky & your agent. We deal with this all the time. It's life.
It's really hard to say over the internet without knowing your personality. This could be the best deal of your life, you could be sitting on the lowest rates of your lifetime and your back ratio could be under 30%. Are you typically nervous in other areas? Do you know why you are worried? You say, "we" - do you feel like this may not be a joint decision? Find out why you feel this way......
Personally, I tend to regret my decisions when I decide not to do something. Once I realized that was the source of my regrets, I've been able to overcome my fear and make fearless decisions. But that's me and it took 30 years to realize it and get the confidence to move forward in my decisions. If you have any apprehension, do not sign. But do get to the bottom why you feel this way -
Go with your gut feel on what's best for you, but buyers remorse is a common term and fear in our business. When I have a client like you, I buy them a big ole box of chocolate (M&M's work well) and after they've devoured some chocolate sedative they usually feel better about their decisions.
What?! So THAT's why my realtor always had a dish of chocolate candy in his office...... I thought it was to keep my kids quiet
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