Losing YOUR New Home to another Buyer

Best house for the best price is the one that sells. Low ball offers don't work anymore and generally sellers here don't respond. Lots of multiple offers in these days of low inventory.

Myrl,

 Well said! I love this post and so true!

Inventory shortates are driving mega competition in San Diego. Better have an awesome agent!

Great post. You are right on the mark.

Myrl- I am seeing this over and over- I keep telling my clients to stop paying attention to the sale price and trying to cut it- the list price is a guiding factor- Once we determine it's value- make an appropriate offer!  If it is over priced- then you can undercut but the days of undercutting a seller are long over now.

Well written post a home buyer needs to be well educated about the home buying process. Thanks for sharing have a great afternoon.

Myrl,

 Lots of comments on this one. I love it have a great week!

Myrl,

So true, I don't understand why anyone would want to shop for a new house without an agent. Since it's the seller that pays not the buyer.

Myrl, I have found that many buyers are tentative to make an offer until they discover they missed out on a couple of homes they were interested in. I have also worked with many buyers that offer a low price, when the list price is already very good, only to discover that someone else offered a higher price.

Hi Myrl, I came back to see more of the comments. WOW, 85 comments and I am leaving #85. You should write more of this stuff. Congrats again!

The biggest problem buyers have is when they behave like these buyers:

Agent: The seller's agent says the seller has 5 offers already.

Buyer: We want to offer 5% less than list price.

Losing out on the house you love is all too common.  I have asked many home buyers if the home were to get away, would you be disappointed and they tell me "yes, greatly".  Yet there is still too many who assume that they will somehow get their offer accepted even though the offer they are making is still too low or that they are asking for too much within the offer among other things. 

I have written some documentation about getting your offer accepted and pasted it within a page on my website.  This is an important topic to me.  Realtors want to get acceptance for the client.  I have written a record 13 offers once in order to get a property for a client.  That is a lot of times and I was worn out after it since I had to go to see the properties without the client as she was not here.  I have found that when that is the case, the number of offers to write will substantially increase.

Good luck on all of your offers whether you are a buyer or agent!

Frank Nuebel

#4:  Killer and something I take TREMENDOUS interest in..

Myrl, Great post!  Now more than ever, it is important for a buyer to be represented by a professional Realtor!

Meryl, over the years, I have seen this so many time.  I have found that in most cases they (1) end up with a home they love even more, and (2) many come to be glad they didn't buy "that other house."  Sometimes, heataches linger.  I know you have as well.  All we can do is all we can do.

Good points, Myrl. So many buyers want to "think about it". Then they head home and get sage advice from their friends and relatives. 

Great post a home buyer has to be well prepared and educated before starting the home buying process. Thanks for sharing.

Dear Myrl,
How wonderful if Buyers could read this for themselves! You always share good thoughts with us on AR. Thanks.
Have a happy day -
Lynn

Myrl, Some people spend less time picking a Realtor than they do selecting a restaurant to eat dinner at. here in Katy so many want a realtor who will give their commission back to them. Excellent list of reasons why a buyer may lose a home to another buyer. 

Myrl

It makes good sense for a consumer to use the services of a professional in a real estate transaction.

Good luck and success.

Lou Ludwig