As a real estate lawyer, I can’t tell you how many times I have gotten the same call. Either a buyer or seller with remorse. “Please help me” - they say. “I bought or sold too quickly. I felt trapped and had to sign on the dotted line. Now please - I have a firm offer. Help me get out of it”. Sound familiar? All of us, at some point or another, have likely made some sort of decision - minor or major - under extreme pressure and later regretted our decision.

It’s one thing buying a sweater on clearance that you cannot return the next day. It’s another thing to purchase a car that was shiny and nice - but you bought too quickly without really thinking through your needs. It’s a whole other level to buy or sell real estate in that manner. Likely your biggest life asset - and you may have spent more time figuring out which can of tomato sauce to get at the supermarket than the home you will live in for possibly years to come. Buying or selling real estate can be a stressful process, acknowledged. But never feel compelled to pull the trigger if you don’t feel ready!

Inevitably when people make a mistake, they do not want to look within themselves. What part they played in it. They want others to blame. In real estate - the first person is often the realtor. I always ask the same questions when that scenario is laid out to me. Did your realtor really force you to sign the document? During a conversation, 99% of the time - the buyer or seller will say no. There are usually other components which they conveniently forget/leave out. When it comes to a seller with remorse - it’s usually because they feel that they sold for less than the market value of the property. And for buyers? Either that they overpaid or simply found another property they like more and now don’t want the first one. It’s funny how greed and pressure can go hand-in-hand!

So when making the biggest decision of your life - to sell your existing property and/or buying a new property - take your time. Do your research. Speak to your professionals - realtor, lawyer, banker, financial planner, accountant - and come up with a game plan that works for you. When you do sign the papers and close your transaction, you will feel much better. Unfortunately we cannot predict the future. So any decision we make - especially a large value one such as a real estate deal, will always have a certain amount of risk. But the better planned and considered the decision will be, the better the outcome you will likely experience.

From the lawyer perspective, it is the people that initially pressure professionals to get a deal done on a rush because they have to buy/sell immediately - that are the ones that will push to get out of that deal even quicker. Ask yourself - are you the one feeling pressured? Or are you the one applying the pressures to others because you are not happy with your own decision? Self-realization is a difficult concept to absorb. But one that you must be in-tune with to make a real estate decision that you are happy with!

Happy home buying/selling and remember - call your Chosen Lawyer when you have questions on your transaction 😊

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