Jim Valentine on Real Estate
Residential real estate can have a lot of emotion on both sides of a transaction. Both buyers and sellers can get emotionally locked up on their price, their wants and needs, and even their desire to buy or sell.
Each can ebb and flow like a moon-influenced tidal change. Full moon effect can create some unnecessary hurdles by their emotionally-charged, changing perspective. We know and recognize that life circumstances change.
A buyer can lose a job, a seller can be transferred, or medical issues can compromise planning. When that happens, buy/sell decisions are made correspondingly. That is not the same as simply changing one’s mind.
Sellers can change their mind when they are approached by an agent asking them to sell even though they aren’t on the market. They may not have thought of selling before that, or they had been pondering selling for a while without taking definitive action.
Regardless, their change of mind from not selling to selling in an almost impulsive manner is indicative of how quickly things can change. There is a good likelihood that if a family has owned a property for many years, they won’t want to sell because of the many memories that tie them to the property.
They enjoy the property and don’t want it “ruined” by someone who doesn’t care for it like they do. In most such cases there isn’t a price at which they will sell … until something changes.
A family ranch property is often involved in such situations. What can change? Maybe the kids all grew up and don’t want the lifestyle or work involved in properly running a ranch. Mom and dad are getting to the point where the lifestyle is a bit much.
What may have been never been a consideration could now become a reality – they will sell. Sometimes minds get changed in the middle of an escrow. A home that looked great going in may have inspection reports that create doubt about the integrity of the home.
No matter how much they love the home, once doubt leaks into the program minds can be easily changed. This is an area where they can be changed one way or another repeatedly. When minds are getting bounced in such a way it is important that the facts are established, evaluated and put in proper perspective.
The agents can help with this. With proper perspective a nervous buyer can comfortably make a hard and fast decision. Sometimes buyers and sellers get the corresponding remorse, i.e. – buyer’s remorse, and aren’t sure what to do.
That is one of those feelings like home sickness that just gnaws at you trying to compel you to taking action. Most work through it with a little bit of thought and perspective discussion, but once in a while it becomes overbearing.
The change of mind in such situations, whether buying or selling, can have severe consequences. They may want to get out of the contract, but that can be risky and expensive.
Work as best you can to know why you want to buy or sell, what the consequences will be, and what your experiences will be along the way. Your professional agent will help prepare you so your surprises are minimized, but things can pop up periodically that will cause you to check your thinking and decisions.
Work through it and make sure that your decision will stand the test of time. Real estate ownership is a long-term experience, don’t let short-term issues wrongly change your mind. The purchase process is minimal, relatively speaking, though it may seem like it a lifetime.
When it comes to choosing professionals to assist you with your Real Estate needs… Experience is Priceless! Jim Valentine, License No. BS-03481, RE/MAX Gold Carson Valley 775-781-3704. dpwtigers@hotmail.com.