Multiple Offers: 5 Tips for Not Getting That Home
Imagine you finally found the house of your dreams here in Gainesville, but there are multiple offers from other buyers! That home has everything you hoped for, from the right countertops to the right landscaping. You spend hours envisioning the parties you’ll throw in the backyard and the baths you’ll take in the clawfoot tub. But fate intervenes, and the seller choses one of the other offers. How do you recover? Here are some tips.
1. Get right back in the saddle
If you must have a pity party, do it quickly. Perhaps a quick toast to what could have been, then dive straight back into search mode. In today’s market, things move fast. You don’t want to miss an even better home while you’re mooning over photos of the lost listing. Everything happens for a reason!
2. Don’t dwell on one dwelling
Delete the listing of the home that got away. Erase the pictures you took with your phone when you toured. Delete it from the listing cart your agent has set up for you. Do your best not to compare new homes to the one you lost. There are lots of homes with lots of new possibilities. Keep an open mind. A better listing could be on the market soon!
3. Don’t settle
Don’t let your frustration push you into a hurried purchase of the next available property simply to get the process over with. Stay true to your shopping list of features you need and want (your wish list). Don’t concede on the features you want. Be patient and wait for the right home. You never want to have buyers’ remorse.
4. Re-evaluate your budget.
Take another look at what you can spend and what the homes you’re looking at have been selling for. Do you need to add cushion to be more competitive when making an offer? Or do you need to start looking at a less expensive neighborhood to find a home that has everything you want? Review all your search options with your buyers agent!
5. Talk to your agent.
Discuss your frustrations with your buyer’s agent. Your buyers agent is watching the market for you. He/she knows your wish list and can watch the new listings every day so you are notified immediately of new homes that match your search. Remember home hunting should be fun with minimal stress. Although it gets frustrating with a low-inventory in our Gainesville market.
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