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Put in offer sooner next time.
Easy to say, but there will be more properties.
Is this for a rental or personal?
You also know that you need to move faster if you want it so next time around you’ll be ready to pull the trigger quicker. It’s a learning experience but definitely a bummer the first few times it happens.
Thanks, this is for personal use. We're upgrading to a bigger house and yes lesson learnt. We need to move faster next time.
It happens, but also should evaluate why it wasn’t soon enough. Did you not pull the trigger or was there another delay. I’ve seen people change realtors/loan officers who couldn’t execute expeditiously. Our go to loan officer submitted an offer and called the realtor ensuring finances were in order while he was at a wedding (he just did it we didn’t ask him to do so).
Seems like you took a “risk” with virtually minimal downside (or no monetary downside) and it didn’t work out. Not the tactic i would use for a good property, but hey, live and learn 🤷🏻♂️ better than you losing a deposit or something due to lack of prep
Coach
1) offers fall through so tell your realtor to reach out to them and let them know you’re still interested
2) Did you do everything you could? If so then try to brush this feeling off, there’s nothing you’ll could have done. Did you wait on it and drag your feet? Then maybe mope for a few days then don’t do that next time
Mentor
Be prepared to make an offer by Sunday of the week a property comes on the market. Most sellers won’t pick an offer earlier than that. Have alerts set on realtor. For properties that fit your criteria and see any good ones in the first 3 days. And I lost the first 2 properties we bid on but the third was the best fit anyway. We made an offer each week for 3 weeks during the hottest part of 2021.
Subject Expert
How long was the house on the market? How long between when you told your realtor to prepare the offer to when it was submitted?
Was the offer at the top of your budget? If your offer was equal to an offer that was submitted earlier, perhaps paying $5k more would have helped.
Did you have all 3 contingencies? Perhaps saying you won’t ask for repairs on your inspection contingency or at least reducing the inspection window, it will show you’re motivated to close faster.
If you aren’t already reviewing every house that hits the market that meets your criteria within hours of hitting the market, you should be.
In this market?! There will be others.
It happens. Learn and grow. Time is the essence. Something better is coming. Life has a plan for you
Make sure you are on the same page with your buyer’s agent about what you are looking for in a property. You should be prepared to make an offer BEFORE going on a showing.
I can help you with apartment search. Let me know if you need help.