The Trials And Tribulations Of Home Buying
You would think that buying a home was no different to buying any other big ticket item. They say that a home is the biggest item that most people will buy and it probably is, yet you can spend two or three times the price of a home on a new sports car and get almost instant delivery if you’re lucky. When it comes to a home, there are so many trials and tribulations for both buyers and sellers, you have to wonder why we bother.
Of course, you can blame government interference for some of the issues involved with buying a home, and while they can be awkward to deal with, many are designed to offer both the sellers and the buyers a range of protections. Still, the number of home sales that fall through betwixt offer and settlement would surprise many. It can be a disappointing experience for home buyers when they feel they have found the right house in the right neighborhood for the right price, for the sale to then fall through because the appraisal is too low, or the home inspection found serious issues with the home.
Sellers face the same disappointments. They find a buyer and agree to a price, only to find the buyer backing out at the last minute, sometimes for trivial reasons. Did you know a buyer can cancel a sale simply because they don’t like the home owner association documents?
If you are buying a home (or selling one), just remember that agreeing to a price is the easy part. The hard work begins after a contract has been sold as each party works to fulfill each component of that contract. The time for excitement is when you have the keys firmly in your hands (or out of your hands if selling), for then the house is yours.
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August 25th, 2011 at 10:44 am
I agree that the hard work begins after the contract is signed. The wait between signing the contract and closing feels so long. It is a big relief to everyone involved when it is over.