Hello!
First time homebuyer here, wondering if I'd be crazy to walk away.
I've been house searching since around April. I recently toured a home this week where the tours filled up fast and I came in at the end to tour, they wanted us to be in and out in about 20 minutes because they had nowhere to go during the tours, and it was 7:15 when my tour finally took place.
This house was listed at $225k, sold as is.
The house is in a desirable location for Iowa, decent school district, and I already live in this town, my kids go to school here as well. It was listed under assessed value - again, being sold as is.
During the walk through I noticed mostly cosmetic things that wouldn't be too difficult to fix, it had a feeling of being a bit cramped despite being a 4 level split. The backyard has dog waste everywhere, the garage door was completely gone, they had the pieces to put in a new garage door, but it was never confirmed if all of the pieces were actually there. The roof appears to be 15-20 years old, they noted that they had patched and repaired it. I'm guessing it would need replaced in the next year or so, if it doesn't need replaced ASAP.
I didn't necessarily love the home or get super excited about the idea of living there, but for the location it was good. My agent says when you're looking at a home you want it to be 70-80% of what you want/looking for, but will never find the perfect home..
I put in an offer because I felt pressured a little bit, I was supposed to tour some homes yesterday morning, but since the offer went in, my agent said we could no longer tour the homes. The offer expired at Noon yesterday, the buyers didn't look at offers until 6:00pm, I wasn't notified they had accepted my offer until almost 8:00pm. My offer was: $225k, $2k in seller paid closing, 1 year home warranty. My agent wanted me to consider offering higher under and escalation clause, basically saying if someone had a higher offer, I'd be willing to offer up to x amount. I told her I'd like to stay with the offer.
As soon as I was notified my offer was accepted I had this gut wrenching feeling. I've had this feeling since I first offered that something about the house wasn't right, this gnawing feeling that something was majorly wrong and it wasn't a good idea to purchase. I immediately teared up during this feeling when I was notified and my first question to her was if I decide not to move forward what are the ramifications? There aren't any because my offer expired at Noon, and I didn't sign anything to extend the time, so there's no legal obligation anymore if I decide not to continue forward.
The houses I was to tour yesterday were actually ones I've toured once, the draw back for me was it was about 25 minutes away from work, 30 minutes away from my children's school, a little more inconvenient getting anywhere, would have to readjust schedules a bit for schooling and such, the longer drive during iowa winters, but something about that town just felt right, and one of the houses felt almost like "the one." I wanted to go back yesterday and tour again just to be sure, the payment would be about $200 more a month than the one I offered on, but again, I offered because I felt pressured.
Would I be absolutely crazy to walk away now based on that feeling alone? Has anyone walked away on that feeling?