Losing YOUR New Home to another Buyer

Real Estate Agent with Coldwell Banker Residential Brokerage SA678905000

Myrl Jeffcoat makes some very valid points in her post written for the California buyer.  These tips are very relevant to buyers in The Villages FL area - even when you are a Cash Buyer.  It is a good idea to have your Proof of Funds ready when you want to submit an offer.

Original content by Myrl Jeffcoat

Real estate professionals accept as fact of life that there will be a certain number of homebuyers, who will lose the house they've found, and would love to buy. There are several reasons this can happen.

Since homebuyers do not generally pay commission on homes, it is important to understand that buying a home without professional real estate representation is not only unnecessary - in today's world, it can be risky.  

(1) Desirable homes, which are priced well in a brisk real estate market, often command a great deal of interest from homebuyers. If a buyer lingers in making a decision and doesn't act quickly, someone else can buy the house.  It is especially true if the home is in a good neighborhood.

(2) Low-balling an offer for a house already priced well, and receiving loads of buyer interest, will usually have the buyer losing the house, because they were outbid by someone else.  Serious homebuyers should aspire to make the most attractive offer they can.   

(3) Getting prequalified and preapproved by a lender is paramount. Buyers failing this important step in the home buying process, often miss out on the best deal.  It isimportant that prospective homebuyers determine how large a mortgage they can qualify for, and consider different types of mortgages available. 

(4) Consider the resale value of the house before purchasing. There are certain features that can hinder a property in marketing - That 1 car garage for example; or 1 bath home. Cosmetic issues with a house - like that peach colored shag carpeting and 1970s wallpaper, can easily be remedied. But it is costly to overcome the need of an additional bathroom, or that small garage.

(5) Likely the most important thing some homebuyers fail to do, is find the best real estate professional, willing to work with them through the home-buying experience and process.

An experienced real estate professional, will educate about the home-buying process, and acquaint with important issues which require consideration and understanding, so successful acquisition of a first home comes with few road blocks and is a more joyful experience.


Posted by


Chris K. Canfield


Coldwell Banker Residential Brokerage

2890 E. Skyline Drive, #250

Tucson, Arizona  85718



Mary-kay Canfield and Chris Canfield ActiveRain ProfileE-mail Chris and Mary-kay Canfield



Comments (4)

Rick Cignoli
Norcom Mortgage NMLS# 71655 Equal Housing Lender - Avon, CT
Sr. Mortgage Loan Officer

Thanks for sharing May-Kay and Chris. Point #3 is crtical for everyone involved. A sad lesson for 2 recent clients who lost in a bidding war because they weren't Pre-Approved.


Mar 19, 2014 01:55 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Mary-Kay - Thank you for the reblog.  It's greatly appreciated!  With spring knocking at our door, I thought it a good time to hopefully inform buyers hoping to successfully find a home.

Mar 19, 2014 02:06 AM
Chris Canfield
Coldwell Banker Residential Brokerage - Tucson, AZ
Homes for Sale in Oro Valley and Tucson, Arizona

Hi Rick - You are absolutely correct.  Especially in a market where 65% of buyers are cash, you really need to prove that you are worthy of consideration!

Hi Myrl - I couldn't improve on what you had to say, so I thought it best to let you say it.  :) 

Mar 19, 2014 02:09 AM
Rob Marken
Bend River Realty - Bend, OR
25+ years experience in Bend

Great points for buyers who really are wanting a home.  I agree that prequalifying is very important.  Thanks for sharing. 

Mar 19, 2014 02:13 AM