Posted by Charles in MD on November 05, 2009 at 22:32:04:
In Reply to: Re: buyer backs out posted by Kristine-CA on November 03, 2009 at 10:48:05:
Yes, I think you are exactly right -- buyer's remorse. Unfortunately, in my case I could not rush the deal either. I inherited the property and it had to clear probate. The lawyer handling the probate got sick, etc., etc. So I actually appreciated the fact the buyer was going to wait around. But yes, he definitely got cold feet and drummed up all sorts of worse-case scenarios that I think made him fearful. In fact, I almost think the fact that I was nice to him and accomodated him to the extent that I did may have fed into his fears that he was not getting a good deal.
I inherited two other houses at the same time, but no probate strings attached, and was able to sell each in a few months. Interestingly, one of the persons who bought one of the first two houses just called me today and is interested in this 3rd house as well, and offered me a matching price. So I don't even get the chance to feel sorry for myself.
I mentioned to the buyer who backed out was that he probably should be working with a realtor. He needs someone who can provide an objective opinion so he doesn't just submit to his own uncertainties.
thanks for your comments