4 Rules to Consider If Your Home Buying Deal Falls Through

Yikes! After all that work and money spent on home inspections, appraisals, and countless phone calls to your lender, Realtor, friends and family you get the dreaded call that the deal is dead. The house that you have been fantasizing over for the last few weeks will not be the home that you will ultimately call your home.

Here are four rules that should help you find a light at the end of the tunnel:

Rule #1 There are always winners and losers in real-estate. The losers, however, are the ones who simply give up on the dream. Getting what you want is never easy. For the most part it can be pretty frustrating. Giving up should never be an option. The only way to win in real-estate is to get back on your feet and find another deal that fits your needs. Be a winner in this market.

Rule #2 Avoid playing the blame game. There are literally a dozen people involved in any given real estate transaction, from Realtors, to loan officers, underwriters etc. Finding the exact point where the deal died can be fairly difficult. Besides it will not get you the house. So dust yourself off and move on.

Rule #3 Don’t listen to the naysayers when you fall or go through tough times. Many people will be there to say “I told you so” or “Now is not the time” etc. You know your situation and you will decide if you want a house or not. Try not to let others make that choice for you.

Rule #4 Whether you want to believe it or not, many things actually happen for a reason and the only way to understand that reason is once you’ve moved onto something else. In time it will undoubtedly all make sense. After a few days off, get ready to jump back in the saddle and use this experience as an opportunity to learn from the mistakes of your failed transaction.

I don’t have to tell you that buying a home is not merely a matter of financial readiness but it is a mental, physical and emotional exercise connecting you to your dreams, the American Dream.

If by chance you find yourself in the very real, yet less than desirable situation of having a transaction die on you, I am letting you know that there is still hope, especially in this market.