Losing Your Dream Home Really Stinks!
We have all been there.
You look at dozens of homes, and finally, you find it..."the one"...that one house that checks every box on your list. Sometimes it is at the top of the price range. And it is usually the house that just came on the market.
No matter how hard the buyer's agent tries, our price recommendation falls flat. The buyer wants to test the seller and see how firm they are on the price. It doesn't matter that it has been on the market for less than a week and we saw the tell tale pile of cards on the kitchen counter. We knew that it was the cleanest and nicest home on the market in their price range. And other buyers would think so too.
But some buyers need to lose one dream home to learn. Sometimes they are listening to parents or friends that are giving them the advice that it is a "buyer's market". That is all relative to the local market and even the price range-you cannot rely on what the national media is saying. You make an offer that you want to make only to find that another buyer saw the value of the home and offered better price or terms. The seller decided to accept another offer and your offer gets the rejection.
And it stinks, it does. But it only takes one. No one likes the feeling of losing. And the next dream home that is "the one" is even better and the buyer listens to the market data and makes the best offer that they can the first time. The first loss prepared you for this next offer. You know more this time.
Great buyer agents will provide sold comparables to help guide you to the market price. You can offer less than the seller is offering, but you need to have the facts to support your offer. And it doesn't hurt to keep the rest of your terms reasonable. After all, you cannot expect to get the best price, $4000 in closing costs, and all the appliances.
If you are considering buying a home in 2014, call me for a free home buyer consultation where I will show you how I represent you in the purchase of a home in the Cedar Rapids area.