Would You Walk Away From This Deal?
Sometimes my best advice is to just walk away. I know that sounds crazy coming from a Realtor, but in certain situations it is the best advice that I can give to my clients.
Buying or selling you home can be one of the most difficult and emotionally draining processes we face. According to the Holmes and Rahe Stress Scale, getting a mortgage, a change in residence, and a change in living conditions are among the top life events that add stress to your life. These life events are in addition to the stress that you experience daily over family, friends and work.
When you add an unreasonable seller or buyer into the mix, it seems to multiply the stress exponentially and cause feelings of anger or resentment. Although, it may not be a purposeful negotiating tactic; the anger can cause you to make an unwise decision.
According to a report in the Harvard Business Review magazine from September 2010, angry people tend to rely on cognitive shortcuts or easy rules of thumb, rather than on systematic reasoning. This also makes one quick to blame individuals for problems instead of the situation.
The problem does not stop there. The leftover anger can cause you to make other poor decisions throughout the day without your awareness. Anger is a very powerful emotion.
When you first encounter an unreasonable party to the real estate transaction, it is the best time to decide if you are going to move forward or walk away. You might think that the party is only going to be unreasonable about this one issue, but my experience would say that you are likely wrong.
I would recommend that you only move forward with an unreasonable party in the transaction, if you did not have any other options and you have a plan in place to deal with the stress and difficulty. Most of the time, I am going to recommend that you to move on to the next one.