Christmas Eve, 2009 (over a year ago) I put this San Fernando Valley condo  in escrow. I patted myself on the back and went to friends for dinner. Come to find out there was a $200,000 bank error and a cloud on title.  My client hired an attorney and successfully litigated that the $200,000 lien was invalid.

So a year and a half later, I need to sell this again. We originally listed this 1 + 1 in December, 2009 for $159,000 and on Christmas Eve put it in escrow for $155,000. 

Flash forward; I relisted this condo in March 2011, for $149,000.  On 4/20, I reduced the price to $138,000 and last week we successfully negotiated an offer and opened escrow.  I dislike loose ends and this unsold condo has been a major loose end. 

But, no this most recent sale is not going to happen as the buyer’s deposit never made it to escrow.  This doesn’t happen often, perhaps less than 10% of the time.  It’s just an early example of buyer’s remorse.  According to Wikipedia buyer’s remorse is: the sense of regret after having made a purchase. It is frequently associated with the purchase of big-ticket items such as a car or house.

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