Be Careful Winning The Battle But Losing The War

A real estate transaction is a very complex transaction with many moving parts.  There are many things that can derail a transaction.  Sometimes a serious issue can emerge and the best course of action is to walk away from the transaction.  An example of this may be realizing there is a foundation issue that will cost $40,000 to repair or discovering the home is in a designated flood plain and is not insurable.

But, often the issues are much smaller.  The back and forth negotiations turn off many people and they decide to walk away as a way of showing they are in control.  Be very careful of this tactic.  This is known as winning the battle but losing the war.

An example may be fighting over whether or not the seller will leave their washer and dryer behind as part of the transaction.  Realistically, a used washer and dryer is probably only worth $700.  Are you willing to lose an entire transaction because of this?

For the buyer, you will have to search for another home.  Military families only get 10 days of permissive TDY to house hunt then the military will stop paying for you to stay in temporary lodging.  At this point, you will have to stay in a hotel or rent an apartment on a month to month lease.  This will easily exceed the $700 you are trying to save.

For the seller, you will have to put the home back on the market and start all over with another buyer.  You will have to pay an additional mortgage payment, utility bills, property taxes, HOA dues, and hazard insurance.  If the home is empty, it will be a target for vandals.  All these expenses will easily exceed the $700 you are trying to save by keeping your used washer and dryer.

Buying or selling a home is a very stressful event.  Try to keep your cool during the negotiations.  When a transaction falls apart, both the buyer and seller lose.