MyWord: Seller's Remorse

Wrought with emotion during or shortly after the sale of your home, you may be gripped with the fear of seller's remorse. What have I done?! You're upset about leaving the neighbourhood, our Gabriola Island community, or selling the home in which you raised your family. In any case, seller's remorse can come in a variety of shades.

This is not uncommon. A home sale transaction is one of the largest financial transactions you'll ever undertake and it's one that's bound with emotion, almost any way you cut it. A thorough understanding of why you decided to sell in the first place, and to know that you did accomplish your goal at a fair and profitable sale price, is your best defense against a paralyzing case of seller's remorse.

However, let's step back.

Recount a set of motives which enabled you to make the decision to sell. There were ultimately a number of both pros and cons. The pros usually would out weight the cons in your decision making. Review these, and the feeling of doom will likely start to dissipate. Review your decision many times if necessary.

Here's some additional guidelines that can help you battle seller's remorse.

Diligently select your Realtor. Participate in the entire process. Knowledge is comfort. Trust in your representative's ability to negotiate the sale price and conditions of sale. Just because your home sold within a few days, doesn't mean it was under priced. It may mean that your home was properly priced and your Realtor did an excellent job of marketing.

Becoming knowledgeable in this industry will also stave off possible unrealistic expectations. Read the real estate newspapers, go to MLS.ca, and talk to your Realtor. Keep in mind that listing prices are asking prices, and it is the final sale price that matters.

Finally, talk to friends and neighbours who have sold their homes and learn how they dealt with seller's remorse. In fact, knowing that remorse is a common by product of this emotional transaction, your feelings of dread or regret will fade with time.