Paying It Forward - Why My Buyers Lost To An Offer That Was $20,000 Less!

Real Estate Agent with Platinum Real Estate Group

This story is amazing and I just had to share. So, I met some great buyers over the Internet a couple of weeks ago and have been showing them homes. They found a home they really liked so we submitted a very reasonable offer. The home was a lower end home priced at $124,000 and we submitted our offer at $120,000. We felt confident we would get the home as there was another offer, but it was low.

The other offer was from a buyer who wanted to remain anonymous so we had to go in blindly. Well, I got a phone call today from the listing agent saying that we lost the home and they were going to accept the other offer. I was about to get upset as we would have increased our offer, but before I could get a word in, he told me to just listen to why they took the other offer.

Turns out, the lender of the other buyer, when sending the pre-approval letter to the listing agent, left the buyer's name on it. The listing agent passed the letter on to his sellers and it turns out the sellers knew who the buyers were. The buyers were the homeowners neighbors.

The offer they submitted was at $100,000, which was $20,000 lower than our offer! The buyer wanted to remain anonymous due to the the low offer they submitted. They didn't want to offend the sellers as they knew each other. But, the seller, once they saw who the buyers were, decided to accept it with no questions asked. But why? 

Well, the seller recently watched the movie Pay It Forward. Turns out, the buyer is an Iraq War Veteran who, as you might imagine, is having a tough time readjusting after returning home. So, the seller knowing that the buyer was who he was, accepted an offer $20,000 less than ours and said it just felt right. And, the kicker...they have to bring money to closing to make the deal happen!

They are willing to bring money to closing in order to help a Veteran buy their home. I have never seen anything so selfless in my life. When I called my buyers and told them the story, they were a little heartbroken to lose the home, but they were extremely happy for the buyer. Who could stay mad at a story like that?

Anyways, we will be looking at some more homes later in the week, but dang, what an amazing story. What about you, do you have a crazy story in the real estate business that just blew your mind? 


Comments (22)

John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Wow, that is amazing!  Hope everything gets paid forward, and that your buyers find a home they love even more!

Feb 23, 2011 08:11 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Thanks for that heartfelt story Lisa!  That is definitely an amazing way to pay it forward, WONDERFUL!

Feb 23, 2011 08:14 AM
Terry Meyer
Berkshire Hathaway HomeServices Sound Realtors - Olympia, WA

Lisa,  Great story.  I am thankful I work in the area I do.  Several military bases and many great people to work with.  I am very thankful for sellers like this.  Our forces work endless hours with very little thanks. 

Feb 23, 2011 08:31 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Lisa - That indeed is a wonderful story.  I typically get a little pissy when my borrowers lose out on a property to a low-ball cash offer but I actually am more disgusted at how so many returning vets are treated by sellers and their LA's in my market here in Los Angeles & Ventura counties.  It's nice to hear that there are still some really nice sellers that are willing to give a returning vet a chance at homeownership.

Feb 23, 2011 08:35 AM
Lisa Udy
Platinum Real Estate Group - Logan, UT
Logan Utah Realtor

Appreciate the comments everyone. I was absolutely amazed at the turn of events in this deal. It's hard to lose out on an offer, but a seller to put that much on the line just makes me happy for humanity. Where would we be without the sacrifices of our Veterans? It just boggles my mind the sacrifices they make so we can enjoy a life of ease and freedom. 

Feb 23, 2011 08:40 AM
John Neil
Bank of Utah - Logan, UT

Incredible! Those sellers are better people that I am for sure.

Feb 23, 2011 08:44 AM
Krystal Knott
Christie's International Real Estate - Summit Colorado - Breckenridge, CO
Breckenridge CO Real Estate & All Summit County CO

Lisa, WOW that was an incredible story.  It is so nice to hear that people are out there paying it forward especially to those that have served our country.  Thanks for sharing!  --Krystal

Feb 23, 2011 09:13 AM
Karen Crowson
Coldwell Banker Residential Brokerage - Rancho Bernardo, CA
Your Agent for Change

Don't have anything to match that Lisa. But it would be really hard to feel bad for very long after hearing that. What a noble thing to do.  (You should put this blog in the Pay It Forward Group).

Feb 23, 2011 09:39 AM
Lisa Udy
Platinum Real Estate Group - Logan, UT
Logan Utah Realtor

Karen - I tried searching for "pay it forward" but I couldn't fint it earlier. Looks like I just needed to add Group to the end. I joined and added. :)

Feb 23, 2011 09:44 AM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Beautiful story, and I suggested it. I hope it gets featured Lisa this is very inspiring to me and I know it would be to others.


Feb 23, 2011 01:35 PM
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Awesome story, Lisa. It's nice to know that it's not always about the money. Thanks so much for sharing.

Feb 23, 2011 02:34 PM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL

Lisa - Wow, what an incredible story, simply amazing and inspirational.

Feb 23, 2011 03:24 PM
Brin Realty Associates Team At Bean Group
Bean Group | Brin Realty Associates - Amherst, NH
Amherst NH homes and Southern NH real estate

Heartwarming story, thanks for sharing it.  I have an investor client that always gives special consideration to military or police officers. 

Feb 24, 2011 11:57 PM
Anna Matsunaga
Team Momentum Keller Williams Realty Tacoma - Lakewood, WA
Seller specialist, Certified Negotiation Expert

Love that movie, have tried to do this in my life in any way that I can as well.  ( little and big)    Don't think I would have minded losing to some one for that reason, and how fair of the buyers to do what they could to NOT sway the seller's decision.... likely will find an even better fit for your folks since it clearly was not "in the cards"

Feb 27, 2011 05:18 AM
Ken Barker RealtorĀ® GRI, E-Pro Certified
Dilbeck Real Estate - Burbank, CA

Lisa - As you started this story I was not expecting the outcome as such. I was trying to guess before completing and all that came to mind is the seller can accept whatever offer they want.

But when you finished, WOW. This is a great pay it forward.

I am sure you have already found your buyers another great home and it is nice the response they had to this loss.

Feb 27, 2011 09:01 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Lisa, found this from Donne....and all I can say is my hat's off to the sellers.  Bill

Feb 27, 2011 10:17 AM
Maya Swamy
Funds Available - Long Beach, CA
Ph.D. Long Beach, CA -

Amazing sellers - hope your buyers understood too.

Feb 27, 2011 04:37 PM
Pat Haddad, ABR, CRS, ePRO, GRI
Keller Williams Indianapolis Metro NE - Carmel, IN
Carmel, Fishers, Westfield IN Real Estate Expert

Lisa--Truly amazing!  I certainly cannot match this one.  Thanks so much for taking the time to write it up and share!

Mar 01, 2011 02:04 AM
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

Wow that is a story that truely makes your heart swell! 

Mar 01, 2011 03:34 PM
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

This is one of the great real estate stories that I have heard, hope to hear more stories like this!

May 15, 2012 01:06 PM