To love and to be loved… the ultimate desire right?
What if you love a home so much and put all your time and effort on securing that home only to lose it to another bidder?
A tad dramatic but you see where I'm going with this.
Last week my clients felt this heartbreak first hand.
If you've been following the market closely you would have noticed that the bidding wars have started to subside with the market stabilizing a bit more.
That being said, well-marketed properties in high demand areas are still attracting multiple offers.
Now here we are, my clients and I, inspecting a property on a Friday with the offer presentation being held on the Tuesday. How does that saying go?… you've got 30 seconds to make the first impression… Well this home made it in about 5 seconds! We stepped through the door and it was the one. I knew it and they knew it. They simply fell in love.
They were buying this home; the question was, at what price? My clients were pre approved and this home was well within their means. They also had a home inspection done on the Monday just for added piece of mind – it was meant to be.
We had gone through the comparable homes and the range of what I felt it was worth, essentially putting ourselves in the best possible position come offer night.
Offer night comes along and as fate would have it, our best offer (financially – not necessarily emotionally) fell short. I was ok with that – we set a price on what I felt it was worth combined with what they could afford and stuck to it. We weren't outbid by $1,000 or $100,000, and really, it wouldn't matter either way. A heartbreak sucks. In any multiple offer situation you can only have one buyer or 'winner' (although a winner can really be a loser…but anyways) … the others go home empty handed.
You can prepare and ready yourself all you want but sometimes it's just not meant to be.
Love is blind? Not when I'm working on your behalf. The house was great but at a price we felt was acceptable. The emotional pendulum may swing one way but in the end we made an informed decision and stuck with it. Onto the next…
Besides, there's lots of fish in the sea.