Jeff’s Carlsbad Blog for First Time Home Buyers

Knowing When to Call it Quits

Posted in Financial,House Hunting,Psychological Stuff by Jeff Dowler on February 19, 2007

thumbs-down.gifAt some time in your home purchasing career (yes, there will be more than one, I can assure you), if not this time, you will need to be in a position of knowing when to call it quits.

I don’t mean to stop looking, but knowing when to say no in an offer negotiation. This is really important. It may not happen, if you make a full price offer or one that is close to asking, but in short sales, foreclosures and other situations where the seller’s price is high, or is above your budget, you need to say no sometimes. Just do it. Don’t feel badly, or quilty. But don’t get sucked into paying more than you should, or can afford. You will regret it, as so many sellers are finding now that the market has shifted.

If you are real close, then perhaps there are creative ways to reach agreement. But if not, it’s better to simply say “next” and move along.  After all, the sellers are willing to say no to your offer, or counter, or counter to their counter, so you should do the same if it’s the right thing to do. Yes, it can be heart breaking if it’s a home you love, but don’t let the emotions carry you away from reality.

Knowing when to call it quits can be a challenge. But not doing so has worse consequences. Trust me on this.


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