Buying? Build an Escape Hatch

Today’s Wiki Wednesday Feature: How to Back Down After Signing

You found your dream house, your bid was accepted, and you signed the purchase contract. Life won’t get much better than this, will it? You finally have the thing you’ve been chasing for months — maybe years. Your dream house is yours — YOURS!  You may, however, be blinded by this excitement, and shortly after you move into your new home you may discover things that weren’t so apparent when you had your rose-colored glasses on:

• The morning commute is nastier from this side of town
• You can’t get your king-size bed up the narrow stairway
• If it rains or there’s a snow accumulation, the basement gets wet

There are many other home buyer’s regrets that we could mention, and things you can do to avoid buyer’s remorse. Don’t forget that Home Q&A can potentially help you avoid some of these issues — ask the questions BEFORE signing the deal. But, if you didn’t take the time to do your homework, you can still back out after signing mainly because contingencies are a buyer’s best friend.

Ed: Wiki Wednesdays is a weekly feature that highlights helpful or interesting articles from the Real Estate Guide.