This year.  I was the listing agent and was speaking with the selling agent asking how things were going.  He said all was well and that the buyers were going to be removing all contingencies later that day.   Within five minutes, he called back and said the buyers were canceling.  No reason provided and the buyers earnest money was returned because it was within the limited period to remove contingencies.  Stuff happens.  New buyer stepped in and transaction closed.  

Happens once in a while with renters, they dont show up for the lease signing and generally never answer their phone either.

Maybe we should ask for EM with the application.

Diana Dahlberg - It was home inspection concerns - not exactly the cold feet!

About 8 years ago.  We lifted all our contingencies except the loan 1 week before closing.  Buyer said he didn't want it.  We were able to get our depsit back because the lender found out the house was for my clients son which made it a Non Owner Occupied, and changed the rate of the loan above the limits we put in the contract.  Seller screamed bloody murder, threated to keep the deposit AND sue us.  It ended okay...  I would have been mad too.

This past year. A 60 year old bachelor, never bought a home, brought at least a half dozen friends to ask for their opinions, asked for sun the moon and the stars, and then backed out during the 7 day review of condo docs. Did not lose deposit. 

Reason: Analysis paralysis

July 2012 

I'll never forget it for 2 reasons:

1. It would have been a $2.4 million sale 
2. It was the only time in my career a buyer lost their deposit: $25,000!!!
3. The EMD was 100% their fault, but it was no comfort when I knew they were losing $25K and I was out $60,000 in commissions.

Knocking on wood here - can you hear it? - but it has not happened. Deals have fallen apart due to inspections and appraisal issues but not remorse. A little panic during the process, though, in a few cases.

The only time that happened to us, was with a building that our buyer was hoping the city would grant him a permit as a storage place.  It looked good until the city reneged.  He was aware that he would lose his earest money, which was quite a bit of $$$.  A

 Last year.  

    My listing; the agent for the buyer called me a few days AFTER the contingency periods expired.  "Fred, they feel awful to ask, but they have changed their mind, can they have their deposit back?  I know it's ridiculous for me to ask, but I represent them so I have to ask."  

    I asked Buyer Agent (who I know and respect) if they were going to look for another house.  "No, they said they changed their mind completely, they want to keep renting for now."

  I told my Seller she could hold them to the contract, claim the deposit, specific performance, etc. but she said, "Just let them go."  She signed the release of deposit.   The house went under contract with another Buyer about a week later.  We closed it.

I sold a home last month and knew that the buyer might have remorse. In fact the week before closing she told me she almost called to ask how can we get out of this? But the moment passed and she closed and is now looking forward to moving in.

When asked that question I immediately say that they need to hire an attorney to see what the ramifications will be. That usually shakes some sense into them.

Just had that happen with a seller - the buyer was in a bidding war and opted to go high and waive the appraisal contingency. They slept on it and when they realized what they had done and that this meant they were going to likely have to bring money to Closing, they walked.

I had a back-up buyer and they just moved right into first position!

The seller released the EMD to buyer #1.

Hell, just happened last week & the buyer was side stepping bringing in the EM. Just let them go & get on with helping your seller.

About a year ago... but we are a due diligence state in NC so no earnest money was lost... just the due diligence fee. Buyers had some issues with the inspections, but I think it was a bit of buyer's remorse. Buyers returned six months later and closed on a home with me a few months ago.

The last one was about a year ago. The buyer had remorse at the closing table! Three times we had to stop the transaction while the buyers stepped out and talked. They bought the home then put it back on the market six months later.

Not exactly buyers remorse,  but I lost a $55K commission.

Seller had a "fixable" issue with the city, which the lazy listing agents (2) would not help out of town seller with. 

They said to me " you know how that goes Eve, we just can't do everything for the seller" so they did not lift a finger for months to do anything...or try to help resolve the issue.  It just dragged on...

Mike and I could have handled it promptly, but the LA chose to ignore the info we provided them.  One of the LA was a smart ass, and the other was under his spell.

Month 5 buyer walked...got escrow back. 

Eve

The property is still for sale.

Unfortunately, I had a deal fall apart earlier this year.  The buyers were very well qualified, but they couldn't bring themselves to go the distance.  The seller said he was going to cancel.  The buyers said they'd sign off on contingencies, but they signed the cancelation instead. The buyer's deposit was returned to them. 

Never.

I have not had that happen.  

I haven't heard anyone on the team crying about losing a deal....they'd better not cry.... put it back on the market and find a real buyer....

This doesn't happen yet.

I have only had clients with Buyers' Remorse once and although the home was gorgeous and we were through the home inspection, they just could not get over the fact the house had electric cooking and not gas. Yes, they could have made the transition themselves, but they opted to walk on the HOA docs, instead.  Because they had that loophole, they received their EMD back and went on to buy another house 2 days later - with gas cooking.  You just never know what trips some people's trigger. 

I once put an investor under an option contract and he changed his mind. I offered him his money back and he said NO...you can keep it. I was stunned

It was last fall. The buyers decided not to buy getting bad advice. They pulled out, lost their deposit. Home sold to someone else and they decided they wanted it again

Happens very rarely! Buyer forfeited the earnest money and moved on!

At the end of 2016. I had finally gotten the short sale approved by both lenders & then literally days before closing the buyers bailed. Said "they were working out some issues as a couple" and "with the stress of the purchase" (a 3 month wait?) they thought it best if they parted ways. They split up & our deal when away. We did close only a couple months later with another buyer. My experience has been that the buyer's deposit IS NEVER kept & rarely ever challenged.

I have never had that happened.

With our Short Sale listings - several times.  Unfortunately for the Buyer - they breached the contract (every time) and forfeited the Earnest Money!! 

When we have had to deal with this, we cut the buyer loose on future activity. No; it has been a long time, fortunately

Only once in the last ten years or so and the seller kept the money since all contingencies were met.

No.

Happened twice in my 11 years in real estate. First one, the buyer willingly let go of the EMD, the 2nd one got made threats and everyone backed off and she got her EMD back. This is the time when you find agents with whom you want to work with in the future! 

I never had it happen

I am a newly licensed home inspection Company in North Las Vegas, Nv, Equity Home Inspections. With this being said, I have never had a deal with buyer's remorse and the deal fell apart. No circumstances available. N?A on Earnest money.

Diana Dahlberg I've never had this happen.

I do not recall one of these situations.

Not recently.

I just had the buyer get buyer's remorse on one of my listings last month, and they terminated due to inspection and got their EM returned.

I can't remember actually since I think I do a very good job of qualifying my leads.

However, this topic took my husband out of the business LOL - boy was he pissed!

I had it happen a couple of years ago and my sellers kept the earnest money.

I can't remember ether side getting that way in years.