Short sales take a long time. Underwriters sometimes request the same document what seems like a dozen different times. Sellers tend to take the highest qualified offer they get (even when that buyer is nowhere near as beautiful and brilliant as you!).Â
With that said, itâ€™s entirely possible that you will have a super smooth transaction, or the shortest short sale ever. Â In fact, that is my hope for you. But if you go in expecting to be the exception to these rules of thumb, thereâ€™s a good chance youâ€™ll be upset over and over again by things that are completely predictable and, thus, create no need for dismay. On the other hand, if you expect glitches, delays and the like, your emotional experience of the transaction will likely be smooth, even if the transaction itself contains the now-normal bumps.
5. Â Cultivate clarity.
Â One extremely common cause of emotional chaos during home buying is the sense that things have spiraled out of your control. Many buyers express feeling that what started out as a very personal vision, dream or aspiration for their lives, their finances and their families is now 100% controlled by banks who donâ€™t care about them or professionals who donâ€™t intimately understand your wants and needs.Â
Itâ€™s true that not everything in your transaction is within your control, but many things are â€“ and thatâ€™s where you should focus your energies. If you start preparing to buy months, even years in advance, by saving, working on your credit, getting referrals to professionals that you feel you can really trust and such, you are much more likely to end up with a home and outcome that satisfies your lifestyle and financial needs. Â
You can also optimize for this by writing out a clear vision statement for your post-buying daily life and your personal finances before you ever meet with a real estate agent or mortgage broker, so that you can walk into those meetings and clearly communicate your wants, needs, and what is and isnâ€™t important to you. Â That makes it much more likely that youâ€™ll get your needs met and minimizes the chances that your transaction will become derailed from your original intentions.
6. Â Manage your own mindset.
Â The list of freak-outs that are common in the emotional landscape of the homebuyer is quite a long one:Â
Â·Â Â Â Â the fear that the seller wonâ€™t take your offer,Â
Â·Â Â Â Â the fear that youâ€™ll pay too much,
Â·Â Â Â Â the fear of surprises,Â
Â·Â Â Â Â the fear of mortgage glitches,Â
Â·Â Â Â Â the fear that the sellerâ€™s bank wonâ€™t sign off on the short sale,Â
Â·Â Â Â Â the fear that the home of your dreams will turn out to have a bunch of problems,
Â·Â Â Â Â the fear that the appraisal will come in low,Â
Â·Â Â Â Â the fear of buying into a declining market,Â
Â·Â Â Â Â buyerâ€™s remorse
- and the list goes on.Â
Ultimately, only you have the power to be the manager of your mindset. Get educated about the full range of things that may happen and plan accordingly, but avoid mentally dwelling on or worrying about hypothetical disasters and worst case scenarios.Â
Learn what things are and are not within your power to control, and decide up front that you will not fixate on or stress about the things that are not. For example, you can control what you offer or whether to house hunt for short sales; you cannot control whether another buyer offers more or whether the sellerâ€™s bank green lights the short sale.Â
If you do get a curve ball thrown at you, take a deep breath, consult with your experts and make the decision that best serves your personal vision and priorities. Then, donâ€™t look back!Â
How have you seen buyers master their own mental universes? Â How do you help them keep calm and carry on, so to speak?
What were your personal home buying freak-out moments? Â What advice do you have for other buyers who want to up the level of Zen they experience during their transactions?P.S. - You should follow Trulia and Tara on Facebook!Â Â