If you’re like many and gave into the housing market of 2022 and 2023, then you might have felt rushed and pressured to place offers on every home on the market. We have all felt buyers remorse on something at some point in our lives, our team has even experienced it in their own homes at some point.
In this article, we’ll give you a few tips to help you overcome buyer’s remorse and how to get into your dream home.
Breathe It Takes Time
When experiencing buyers remorse over something as large as a home purchase, it will quickly feel like the weight of the world is on your chest. If you let this anxiety cripple you, it won’t help the situation. The first step to removing that weight is to simply breathe and understand that it’s going to take some time to get out of this house, and you’ll be okay in the meantime.
Selling Your California Home to Remove the Stress
After you’ve sorted out that negative feeling of guilt or regret, it’s come time for solutions. Truthfully, if you hate your house, it’s not a house, it’s a building with no attachment other than that regret, and possibly even shame.
The first solution is to sell your house. You have a few methods to do so, you could sell your house on the real estate market traditionally with a realtor, sell it as-is by owner, or sell it to Osborne Homes and close in as little as 7 days, while getting cash for your home.
It’s important to consider each variable when selling your home, and it’s also vital to establish a timeline that you need to be out by.
Let’s take a look at these sales strategies a little deeper.
Traditional Real Estate
- Typically higher revenue
- Larger stream of buyers
- Mortgages are easier to accept
- Repairs might be required
- It takes several months to sell and close on a home
- You have to pay closing costs and realtor fees
The traditional market is the best option for anyone who can weather another 3-6 months of living in the home. It’s not easy, trust me I understand.
FSBO As-Is (For Sale By Owner)
- A lot more cash offers
- Repairs aren’t required
- Lower qualified offers
- Smaller offers
- The time to sell really varies and it’s unknown
This option is best for anyone with minor home repairs, and can be okay with living in the property for at least 2 months.
Selling to Osborne Homes
- Close in as little as 7 days
- We understand your situation
- No market wait times
- All cash
Osborne Homes is the best option for anyone with true buyers remorse who need out NOW.
But, I Have a Mortgage…
We’ll buy your property with cash, and work out a repayment plan on the remainder of the balance of your mortgage. This way, you can have the capital required for a new down payment.
Oftentimes you may not be able to sell your home for 3-6 months, it’s strongly suggested that you verify your waiting periods with your mortgage company before listing the home. There may also be a large lump sum that’s required for an early pay off. Again, just check with your lender.
FSBO is a little harder to navigate with mortgages, but there can be a silver lining here. Mortgage transfers are not a strange thing to happen in a home sales process. It’s the process in which you forfeit your home to the buyer, in exchange, they take over your mortgage and you walk away scratch free, except for any down payments or other fees you’ve already paid.
With FSBO, you may still have a mortgage waiting period, please check with your lender beforehand.
Turning Your Misfortune Into a Small Fortune
If you regret your purchase, you still have one last option and that is to rent out the property to someone else, and make additional income from it.
If you choose this route there are a few things to consider:
- Every time you visit the property you may get that gut sick feeling
- It costs a lot of money to maintain a property
- Tenants can destroy your income in a split second
- California is a for-tenants state which gives them leverage
Perhaps you already did this step, and now you’re a regretful landlord with buyer’s remorse, if this is you – don’t worry we’ll buy your house with tenants living in it!
In conclusion, buyers remorse truly stinks, but knowing you have options should help. If you need to sell your property and be out the fastest, sell your house to Osborne Homes and get all cash AND close within 7 days.