Annapolis Md Homes and More: SELLERS- BUYER REMORSE COULD HAPPEN TO YOU

SELLERS- BUYER REMORSE COULD HAPPEN TO YOU

buyers remorse

 

Today's real estate market offers Buyers a smorgasbord of home choices and sometimes that smorgasbord can have a Buyer rethinking their choice. 

To protect yourself from a change of heart you need to take precautions ahead of time especially since real estate contracts in our area are heavy on the Buyer protection end. Following are a few things to consider doing before you list your home for sale.

1- Make sure all the little upkeep items are taken care of in your home. Most contracts written today are done so with a home inspection contingency and when a Buyer sees a laundry list of little things that need to be done they may start to get cold feet. Has your furnace and air conditioner been serviced lately? If not get it done up front. Change the filter and clean up around the systems. Do all your windows open and close properly and is all the hardware securely attached? Check them out, tighten those loose screws and replace any hardware where needed. Any leaky faucets, broken sink stoppers, loose toilets, old grout? Fix, tighten and redo. How about door trim? Is it all in good shape? If not get out there and repair and repaint.  Are your stair railings secure or do they wobble when you pull on them? Home inspectors look at this as a safety issue so fix it now. How does the vegetation look around the exterior of your home? If it is thick and touching the house trim back and away.

Home inspection contingencies are written so that a buyer has the opportunity to make sure the home is up to snuff and there are no major issues. However, if a laundry list of little things come glaringly forward then the home inpsection can give the Buyer the opportunity to call the contract NULL & VOID. Ouch! You do not want that to happen.

2- Homeowner Association paperwork. Did you know that a Buyer has the right, after reviewing the homeowner association paperwork, to cancel the contract with no reason given for doing so? The Maryland Homeowners Association Act states that if a Buyer has not received all of the MHAA information five (5) calendar days or more BEFORE entering into a contract, they have five (5) calendar days to cancel the contract after receiving all the information. They must cancel in writing and they do not have to state a reason. Ouch again! Now very rarely or ever does a Buyer receive the necessary homeowners paperwork before writing a contract but the longer it is after they have written a contract the longer this possibility hangs over your head. Order any necessary homeowner association documents right a way when you list your home for sale. Don't wait. get those 5 days started early and out of the way. You will sleep alot better. Of course if you do not live in an area with a homeowners association this is not even a problem. 

In today's real estate market preparation is the key. Competition is heavy so don't give YOUR Buyer a reason for Buyers Remorse. You just never know when another Buyer will come about.

For more information and tips on getting your home sold in today's market

just give me a jingle. I'd be glad to help.

Martha Brown CRS GRI 

Long & Foster Real Estate

410-440-7839 cell   410-721-1500 ofc    martha@homesaroundannapolis.com

www.HomesAroundAnnapolis-Lady.com

Bringing peace of mind to the crazy world of Buying and Selling Real Estate

 

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About the Author Martha Brown- As a third generation Annapolitan I love to write about my experiences in and out of the real estate market. Licensed since 1992 all with Long & Foster I am a Certified Residential Specialist (CRS) and a Seller Representation Specialist (SRS) whose passion is homes in the Annapolis MD area and surrounding communities. My goal is to help my clients understand the real estate market and to then make sound real estate decisions. 

 

Martha can be reached  at 410-260-2800 ofc or 

martha@homesaroundannapolis.com.

When searching for Annapolis area homes for sale

there is no better place than

www.HomesAroundAnnapolis.com

 

Have a real estate question?? 

 Ask Martha

 

 
         Bringing 'Peace of Mind' since 1992                  
 
All Photographs and/or written material and content produced by Martha Brown. All Rights Reserved and may not be reproduced or reprinted without express written permission of

Martha Brown of Long & Foster Real Estate.

320 Sixth Street

Annapolis, MD 21403

410-260-2800 office

410-440-7839 cell/text  

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Comment balloon 3 commentsMartha Brown • July 19 2008 08:31PM

Comments

I hate buyers' remorse cases!  You get the freak out call to get them out of it or they'll move to France, then if you do they decide they've made the biggest mistake of their life!  Yikes!

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) about 10 years ago

We see it in our market, too.  Home inspections are causing contracts to fall apart.  Sometimes it is for the best, there is actually a problem that a buyer may not want to cope with.  Other times, well not so much.

Posted by Regina Lundeen (Delaware Association of REALTORS®) about 10 years ago

Good advice to the sellers, do everything you can to try to thwart the "remorse"!!

Posted by April Hayden-Munson, Brookfield Wisconsin Real Estate about 10 years ago

Participate