mortgage errors and omissions insurance

How to Survive When a Deal Falls Through

You’ve had your heart set on this house. You’ve worked hard and saved and your dream of homeownership is finally becoming a reality — until the rug is pulled out underneath you. What happens if a deal falls through?

Check with Your Realtor

Hopefully, your realtor has mortgage errors and omissions insurance in case something went wrong with the deal on their end. Check with them and ask what happened and what you need to do to make sure this doesn’t happen again. Ask what the policies are like for getting back any money you have put down on the home and what steps you need to take next.

Mourn, but Move On

Almost having a home is a devastating loss, so you’re allowed to be sad about it. However, don’t let yourself be so sad that you get bogged down and fall into a depression. Acknowledge that yes, it sucks, but also learn that these things happen and move on.

Keep Looking

Your home is out there! Don’t give up because of one bad experience. Keep hunting and keep making offers. You will find the one you’re looking for before you know it.
A real estate deal that falls through is a massive disappointment. Recovering and getting back on your feet is important too, though. You can’t move into your dream home if you waste time pouting over the one that got away.

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