When The Seller Calls To Buy The Home Back
A reader sent me a message about a situation that feels both flattering and unsettling. They closed on a home less than a week ago and the seller wants to buy the home back. The former owner called to ask if the buyers would sell the house back to them for cash and a quick close. The sellers said they moved into their new place, felt instant regret, and now miss their old home.
Here is how I think about it and how I advise clients when this happens.
Start With A Clear Head And A Clear Goal
It is normal for people to second guess a big move. New routines feel uncomfortable and nostalgia can be powerful. Before you react, decide what you want. If you are excited to move in, your default answer is no. If the price is truly compelling, you can consider it.
Say this, calmly and kindly.
We are planning to move in and are not looking to sell. If you want to make one firm offer, we will review it. If it does not work for us we will be moving forward with our plans.
That single offer approach keeps you out of back and forth and puts the burden where it belongs.
Price Is Not The Only Number That Matters
If you do entertain an offer, remember the full math.
- Closing costs. Title insurance, transfer taxes, recording fees, and title company or attorney fees still apply even in a cash deal.
- Moving and possession costs. Movers, storage, short term housing, lost work time.
- Tax exposure. You have not owned and lived in the home for 2years, so the IRS will view any gain as taxable. In many cases long term capital gains rates can be as high as twenty percent. Speak with a tax professional about your specific situation.
- Repairs and changes. If you already scheduled work or purchased items for the home, include those real costs in your walk away number.
- Opportunity cost. Will selling set you back in your housing plans or force you into a less favorable purchase later.
Protect Yourself If You Engage
If you decide to hear the number, do it safely and in writing.
- Require proof of funds with any offer.
- Use a local title company or closing attorney to draft documents and hold escrow.
- Make the sale as is and with no inspection or appraisal, given the home just closed.
- Require the buyer (former seller) to pay all closing costs and taxes related to the new transfer.
- Set a short response deadline and a fast but realistic closing date.
- Do not give keys or early occupancy until funds are fully cleared.
What I Expect Will Happen
In my experience many sellers who call right after closing calm down and decide to stay in their new home. Moving is stressful. Routines change. People miss what is familiar. Once the boxes are unpacked the panic fades. That is why I like the single firm offer approach. It respects their feelings without pulling you into a long negotiation cycle.
How To Pick A Number
Talk privately with the other decision makers in your home. Choose a number that makes you feel more than whole after all costs and taxes. It should be high enough that if they say yes, you feel good about the outcome, and if they say no, you feel good moving in as planned.
A Real Example To Consider
I wrote about this topic before in a post titled Buying Back Your Old Home. If you want a deeper dive into the emotions and the mechanics, read it here: Buying Back Your Old Home.
Final Advice
You already own the home. You do not have to sell it back. If you choose to listen, set firm boundaries and make sure the numbers truly work in your favor. If you prefer to move in and enjoy your new place, you do not owe anyone an explanation beyond a polite no.
If you ever find yourself in a similar situation, I am happy to talk it through and help you pressure test the math. If you would like an introduction to a vetted real estate agent in your market, I can connect you with a great one who will look out for your interests.
