Just rejected a property under contract for the first time

[Nicole Warne-McGraw]

For the first time, I backed out of a property for which I was under contract. After the inspection, I ran my numbers based on anticipated repairs and maintenance; plus actuals from the loan app that just made it through underwriting. And the numbers simply did not work.

I realized that I was trying to make it work because I "like the house." But that is not how an investor makes decisions.

So, I utilized this Buyer's Response provision for the first time:

• "Buyer’s inspection of the Property is disapproved and the Agreement is terminated. The Earnest Money shall be refunded to Buyer."

Pretty darn proud of myself for making the wise investor choice. Figured lots of you would understand.

[Aaron K.]

It's good that you did that, hopefully you've learned and going forward will be aware of this before entering contract.