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MockingJay
Ring out the old...
Member since 9/08 1312 total posts
Name:
Ring in the new!
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Outbid...again
We offered full asking price, wrote a personal letter and were still outbid.
As a 1st time homebuyerHow can you compete with someone putting 50% down??!!!
Guess it wasn't meant to be. For now, we keep shopping
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Posted 5/17/11 12:40 PM  |
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Long Island Weddings
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Jenhos
Maeve
Member since 6/05 3273 total posts
Name:
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Re: Outbid...again
I'm sorry  I know it is so frustrating!!!!
I will sell you my house  Not sure where you are looking.
Keep looking your house is out there. People putting 50% down is not the norm but it shows you that alot of things go into a seller choosing and offer. It isn't always about the most money. There are many factors.
Best you can do is have all your ducks in a row and eventually you will be the best offer and you will have YOUR house!
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| Posted 5/17/11 12:46 PM |
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8ternity
<3
Member since 11/08 10586 total posts
Name:
Formally NYPD-Wife
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Re: Outbid...again
Don't be discouraged...you are going to find a better house. So many more are coming out now...hang in there!
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| Posted 5/17/11 12:54 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Outbid...again
Sometimes even with the best offer you just can't compete. Like a cash offer.
You will find a house. 
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| Posted 5/17/11 1:08 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Outbid...again
I don't get that cash business. If you are pre-approved for a mortgage it's the same thing.
We had this happen to us too. We must have bid on 20 homes and people came in after selling theirs with all this cash.
Can't figure it out.
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| Posted 5/17/11 1:24 PM |
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jana
LIF Adult
Member since 3/06 1134 total posts
Name:
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Re: Outbid...again
A cash offer always looks better because there are no banks involved. A seller might be afraid their home won't appraise for the selling price, actually the amount of loan.
Thats the only advantage I can think of, other than that... I don't get it either 
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| Posted 5/17/11 1:37 PM |
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Sandy55
My family ROCKS!!!
Member since 2/08 1219 total posts
Name:
Sandy
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Re: Outbid...again
Sorry to hear! But something will come along soon. Keep your head up and keep looking.
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| Posted 5/17/11 2:16 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: Outbid...again
I know the feeling. We put in a full price off with 60% down... and someone else came along ALL CASH.
We ended up with a bigger house, better layout, and much larger property.
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| Posted 5/17/11 3:20 PM |
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bride07
Ava Rose you are an angel!!!
Member since 3/09 6115 total posts
Name:
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Re: Outbid...again
I'm sorry! Something even better will come along, it just wasnt meant to be.
We were outbidded on two other houses, before getting the one we are currently in contract on. Everything happens for a reason...and this house we bought it much nicer than the others.
You will get the perfect house for the two of you!!!
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| Posted 5/17/11 3:30 PM |
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carissa1643
I LOVE my sons! :)
Member since 5/09 5283 total posts
Name:
Carissa
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Re: Outbid...again
I know how you feel!! We were just outbid also  We're back to looking again. Good luck to you! Something better is out there!
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| Posted 5/17/11 3:48 PM |
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MockingJay
Ring out the old...
Member since 9/08 1312 total posts
Name:
Ring in the new!
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Re: Outbid...again
Posted by jana
A cash offer always looks better because there are no banks involved. A seller might be afraid their home won't appraise for the selling price, actually the amount of loan.
Thats the only advantage I can think of, other than that... I don't get it either
This is exactly what my REA told us...I think that's the fear.
Still annoying though!
We're looking from Merrick to Massapequa.
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| Posted 5/17/11 4:22 PM |
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MockingJay
Ring out the old...
Member since 9/08 1312 total posts
Name:
Ring in the new!
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Re: Outbid...again
Thanks everyone! I really do appreciate all your stories about how you ended up with an even better house! It definitely keeps me hopeful. I'm just so over this whole thing.
I emailed my REA before saying:
"honestly feel like I've "grown up" in this real estate game. At first throwing an offer on the table was special and sacred, but now we're bitter and we're just being promiscuous and gonna throw offers at everyone and hope someone phones the next day"
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| Posted 5/17/11 4:26 PM |
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jana
LIF Adult
Member since 3/06 1134 total posts
Name:
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Re: Outbid...again
Posted by Belongs2DanBuckley
Thanks everyone! I really do appreciate all your stories about how you ended up with an even better house! It definitely keeps me hopeful. I'm just so over this whole thing.
I emailed my REA before saying:
"honestly feel like I've "grown up" in this real estate game. At first throwing an offer on the table was special and sacred, but now we're bitter and we're just being promiscuous and gonna throw offers at everyone and hope someone phones the next day"
You HO!
 Just kidding! From Merrick to Massapequa you are bound to find a gorgeous house. Personally, my dream locations! Best of luck.
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| Posted 5/17/11 4:31 PM |
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MockingJay
Ring out the old...
Member since 9/08 1312 total posts
Name:
Ring in the new!
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Re: Outbid...again
Posted by jana
Posted by Belongs2DanBuckley
Thanks everyone! I really do appreciate all your stories about how you ended up with an even better house! It definitely keeps me hopeful. I'm just so over this whole thing.
I emailed my REA before saying:
"honestly feel like I've "grown up" in this real estate game. At first throwing an offer on the table was special and sacred, but now we're bitter and we're just being promiscuous and gonna throw offers at everyone and hope someone phones the next day"
LOL
You HO!
Just kidding! From Merrick to Massapequa you are bound to find a gorgeous house. Personally, my dream locations! Best of luck.
that's what DH called me!!!!
I told him that we have protection and we could always "pull out"
This is how I amuse myself...its very sad 
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| Posted 5/17/11 4:40 PM |
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mikeandjess
LIF Adult
Member since 10/07 2278 total posts
Name:
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Re: Outbid...again
Sorry Jess. I know it's discouraging but you will find your dream house. We went through a lot before we found the house for us. Are you working with an agent?
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| Posted 5/17/11 9:39 PM |
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MockingJay
Ring out the old...
Member since 9/08 1312 total posts
Name:
Ring in the new!
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Re: Outbid...again
Yea we're working with agents. They've been doing alot for us but we're being kinda picky with certain things so we get really excited when we find a house that actually has it. Apparently many other people share our excitement with more money than us
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| Posted 5/18/11 11:56 AM |
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Re: Outbid...again
in this market, cash is king.
We are planning to buy a house over the next few years and will be selling our house first, and then use the cash to buy our next house. I hate mortgages, period.
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| Posted 5/18/11 1:24 PM |
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Kmarie36
LIF Adult
Member since 9/10 1449 total posts
Name:
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Re: Outbid...again
Worst part of house hunting!! We were outbid 3 times, and the last time we went in over asking price also. Very frustrating! Sometime better will come along
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| Posted 5/18/11 1:37 PM |
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