Picking A Buyer From Multiple Offers Can Be A Very Emotional Decision

By
Home Stager with Sharon Tara Transformations

With the hot sellers' market most are experiencing right now, multiple-offer scenerios are common.

I've been the buyer twice now in mulitple offer situations, but never the seller.

It was our hope when we recently listed that we would enjoy the benefit of having mulitple offers. What seller doesn't wish for that?

I pictured us choosing the buyer we wanted from a stack of hopefuls...having all the control and loving it.

Well we recently got our wish....and it wasn't quite what I had imagined it to be.

It was actually emotionally painful.

 

Maybe buying a home, selling a home and selling a $100,000 boat all at the same time has taken its toll on me.

Stressful doesn't begin to describe the roller coaster we have been on the last twelve months. 

We have had several buyers for the boat fall through.

 

Just a few days on the market we went under agreement on the house.

But the buyers backed out before even making the initial deposit, costing us a week on the market.

 

We have been burned multiple times so we were cautiously optimistic when we suddenly had two interested parties on our home.

 

Couple One had originally said "no thank you" after their showing.

They returned when they learned it was back on the market.

Couple Two was a young couple who fell in love with the house immediately upon entering. 

Pretty awesome right? Dual offers here we come!

 

Turns out I'm just not cut out for the emotional aspect of being in this position...having to choose one over the other. 

Both couples sent personalized little notes tugging at our heart strings...both made me cry. Everything at that point was making me cry.

Couple One offered cash.

Couple Two offered more money, but needed financing. 

Money aside, my heart really wanted to choose Couple Two, the young couple who loved the house so much. Unfortunately, we couldn't take the risk that the house wouldn't appraise for financing.

The best choice for us was the cash offer.

It broke my heart knowing how disappointed that young couple would be. I asked my agent to please let them know how difficult the decision was for us. 

I really don't like having to make decisions that affect others.

I certainly don't like disappointing others. 

The good news is we closed on the new house last week, we are supposed to be closing on the boat within a week and we are scheduled to close next month on the house.

I can finally see the light at the end of this tunnel!

 

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Ambassador
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Sharon Tara  Best advice is not to read letters submitted with offers . Selling your house is business not personal ..  You made the right decision

Sorry you had so much trouble it will pass soon

Apr 17, 2018 05:30 PM #8
Rainmaker
4,557,831
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thanks for sharing this story. It is good reading for prospective home sellers.

Apr 17, 2018 05:34 PM #9
Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Sharon- knowing you as I do, I know this was difficult for you. Things do happen in 3s...closed on your new home, multiple offers on your current home, and now THAT boat will soon close. Thank goodness. Now you can move on with the next adventure that will come your way. 

Apr 17, 2018 06:22 PM #10
Rainmaker
1,957,726
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Chris Ann Cleland  Super exciting, but super stressful! Thanks for the feature!

Hannah Williams  Thank you! When my agent forwarded the notes I told my husband we shouldn't read them....but my curiosity got the better of me. LOL

Roy Kelley  Thank you. I hope this does help others.

Kathy Streib  We are so glad it's almost over. Such a long couple of years. I'm looking so forward to the next chapter! Thanks for the support and listening to me vent all those times!

Apr 17, 2018 06:53 PM #11
Rainmaker
3,958,853
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Congratulations on your new home . Good luck in having  a smooth closing on your current home

Apr 18, 2018 02:51 AM #12
Rainmaker
2,733,678
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

People always imagine that multiple offers will have Sellers jumping for joy and forget the emotion involved in the sale...all the best to you on your journey to the next house you will call home.

Apr 18, 2018 03:09 AM #13
Rainmaker
2,968,799
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Sharon. I am really happy for you. It is tough and I will keep you in my thoughts and hope that all goes smoothly.

Apr 18, 2018 06:13 AM #14
Ambassador
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Good for you - and we totally get it. It is an emotional journey. Glad you finally have light at the tend of the tunnel. Can't wait to hear about your new digs. D 

Apr 18, 2018 09:57 AM #15
Rainmaker
1,957,726
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Gita Bantwal  Thank you so much. I'm so sorry I haven't returned your call yet. I've been out straight. We have so much on our plate right now.

Apr 18, 2018 05:50 PM #16
Rainmaker
1,957,726
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Sally K. & David L. Hanson  I appreciate that, thank you! We really love the new house and look forward to living there!

Sheila Anderson  I appreciate your support! It's stressful but as my husband says "it's all good!"

Debb Janes EcoBroker and Bernie Stea JD  Thank you! I hope to do a series with some before and after pics. They are refinishing floors now. Carpets get replaced on Monday. New appliances are coming on Tues. We have been and still we be painting. I'm so excited!

Apr 18, 2018 05:53 PM #17
Rainmaker
2,968,799
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Sharon, I am so psyched for you. It is all good. 

Apr 18, 2018 06:05 PM #18
Rainmaker
2,858,697
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hi Sharon - this is an example of the reality of real estate.

Apr 19, 2018 05:16 AM #19
Rainmaker
1,957,726
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Sheila Anderson  Thank you so much! I'm so looking forward to being settled in and back to a somewhat normal schedule again!

Michael Jacobs  A harsh reality. Not at all what I expected. I'm past it now and just want the money. Another reality. LOL

Apr 19, 2018 07:10 AM #20
Rainmaker
1,696,120
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Sharon Tara - As a member of AR and a Seller and a Buyer it's good to hear this side of your story. It is an emtotional roller coaster ride for Agents too. Agents, like myself who don't have second incomes or a nest egg to provide for the off times are always feeling the emotional stress because we have financial obligations too. Without a sale, we wake up every day being unemployed w/out welfare or unemployment checks. 

Texas has been receiving multiple offers for some time now, longer than most of the country. It takes a toll on everyone standing in line, hopeful to be chosen, and of course it's a gamble greater than most people think when it comes to the decision making on Sellers and all parties involved.

I am glad you can finally put this experience aside and start to resume your new beginnings soon. May it be everything you hoped for. 

Apr 19, 2018 07:44 AM #21
Rainmaker
1,957,726
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Patricia Feager  Thank you! It does take a toll on all involved.  It's frustrating to have to start over, whether buyer or seller.

We hope to be very happy in our new home and have all this behind us very soon.

Apr 19, 2018 12:43 PM #22
Rainmaker
449,825
Pat Starnes, Brandon, MS
Front Gate Real Estate - Brandon, MS
Broker Associate, ABR, 601-278-4513

I know how disappointing it is when the buyer backs out; that happened to me last year when I sold my house and I lost precious time on the market, too. But there IS light at the end of the tunnel. Glad you are getting there, one step at a time.

Apr 20, 2018 12:33 PM #23
Rainmaker
4,204,072
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Sharon.  I understand how this decision was a difficult one, but you made the right decision.  This should not have to be an emotional experience, but a business decision.  You did well.

Apr 22, 2018 05:21 AM #24
Rainmaker
1,957,726
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Pat Starnes, Brandon, MS  We are past the "Inspection" hurdle this week! Just waiting now for the closing date. I'm so looking forward to being settled in and having all this behind me!

Gabe Sanders  Thank you! I have a much clearer head at this point in time and I know we did the right thing. I will be happy when it's all settled.

Apr 23, 2018 05:23 PM #25
Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Sharon

Well I am way behind the times, but congratulations on making it through the selling and buying process. It IS emotional and going through it personally helps us be more empathetic with our clients. It’s even harder when you know buyers have been through one or more attempts before!

Best wishe for getting settled smoothly and quickly.

Jeff

May 17, 2018 04:32 AM #26
Rainmaker
1,957,726
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Jeff Dowler, CRS  Thank you! I'm already over it. LOL

It's been an exhausting and emotional roller coaster....being under contract on three properties all at one time takes it's toll. Final closing (house we are selling) is tomorrow. We are loving the new house and look forward to simply relaxing on the porch!

May 17, 2018 05:56 AM #27
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Sharon Tara

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