Buyers Are Liars!?

[Ruby Ruiz]

I have been in Real Estate for over 3 years now, and even though I find myself to be experienced and know the difference between a real buyer and a fake one, I still get it wrong from time to time. I have recently purchased my first Sub-to property that I will be owner financing, after 2 weeks of looking for a buyer- I found the perfect couple to buy it, or so I thought. They gave me their sob story about not being able to buy traditionally due to immigration status, they told me how hard they work and how excited they were to finally be able to own their home after 12 years of renting. I was very moved, we made a deal that fit their needs, we brought down the interest from the original 8% I was asking to 6.5% to meet their monthly max budget. Maybe I got over excited, since this was my first owner finance deal, but I was really taken by them- I wanted them to live and buy our home. I thought I was creating the sought after "win, win" scenario we all want in Real Estate. I was helping a couple become home owners, while making a smart business move for myself. My heart sank to the floor when I received a text message from them telling me they will not be moving forward in the purchase. They "were not ready". They "wanted to wait". Everything leading up to this text message was positive, I never noticed anything wrong or remotely hinting to not buying. It stung for sure, even after 4 years in real estate I still got played. Sighhh. 

Has anyone else experienced this before? Is there anyway to catch fake buyers up front? or maybe I was blinded by being emotionally connected to the deal? I have been in Real Estate as a Realtor, wholesaler but just recently started to purchase properties as an Investor myself. Thoughts?

[Jay Hinrichs]

if in 4 years this is the first buyer to bail thats extremely good.. people get buyers remorse all the time does not mean they lied  they just get worried and change their mind.

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