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When to Walk Away from the Sale in Irvine, CA

Is It Time to Walk Away from the Sale?

By , 9:00 am on

Buying a new house for sale in Irvine can be one of the most exciting and stressful times in your life. You are looking forward to a new chapter in your life, but you also want to find the home of your dreams. Since a house is a major investment, you should never buy unless you are completely satisfied. If any of these four issues come up during the home buying process, then you should absolutely walk away from the potential sale.

1. Inspection Problems

An inspection should be done before buying any home because it will inform you of any potential issues that need to be immediately addressed. A lot of inspection problems are a sign that the home was not well maintained throughout the years, and, more importantly, could be a money pit once you purchase it if the current owners are unwilling to fix the problems.

2. Low Appraisal Value

A home should be treated like an investment. Even if you find the house of your dreams, you should never purchase it for more than it is valued. If the appraisal value is lower than the potential sale price, then you need to revoke or revise your offer immediately. It’s also important to note that the lender will not agree to a mortgage loan for more than the appraisal price.

3. You Feel Uncomfortable

Since you are going to spend a large portion of your life in your new home, you have to be completely satisfied with your decision. The same thing goes for your partner if you have one. If either one of you is waking up in the middle of the night dreading your potential home purchase, it’s a likely indicator that you are not comfortable buying the house and should take a step back to reconsider.

4. You Find Something Better

The goal of the home-buying process is to find the best home for your needs. Since homes for sale in Irvine are put on the market daily, it is entirely possible that you find a better home as you’ve initiated buying another house.

Need a little extra guidance during the home-buying process? You’re not alone, and we can help! We’ve been working in Irvine real estate for more than a decade and know every in and out of the local market. Check out our inventory online or give us a call at (714) 454-6304 to schedule an appointment.

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