Recently
I had a buyer that
was looking at homes. They were known for doing their
homework, so when they
decided to look in a new neighborhood, I didn’t think anything of it.
The homes in this neighborhood were in their price range and actually a little bit bigger than the ones we had been looking at in previous neighborhoods. (It really was a great deal.) So, we go look at this one house, this was it, it was her dream home and if she loved it… so did he, and they were set.
Back to the office, to write the offer… NOT SO QUICK!
I really wanted to write the offer right there at the kitchen table, this was an amazing deal and I knew it and so did they. But, they wanted to think about it. WHAT? What was there to think about? We headed back to my office and they said they would call me later that night with what they decided on the home.
Later that night, I got the call that they were looking into the neighborhood and wanted to go to the schools on opening day and figure out if this was a good school district or not and then wanted to check out the sexual predator list and the local demographics. I said, “No problem, but if you wait, the house will be gone! Write the offer, then you can always withdraw it in a couple days if the neighborhood isn’t to your liking. It is the weekend and more than likely we won’t have an answer until tomorrow when I can present it.”
They said, “No, we need to check it out.” Well, 48 hours pass and they decide that this is the home for them and guess what? The sellers had already accepted an offer! I love helping buyers find that perfect home, but if a home is new on the market you need to remember you aren’t the only looking and need to act quickly if you find the home of your dream or it will go to someone who didn’t wait to think about it.
The buyer above did learn their lesson, last week we found another home just down the street from the one I was talking about above. But we did end up having to offer $5,000 more than the previous homes list price to get this new home because of other offers. So, if you find your dream home, don’t hesitate, write the offer or it could be too late!
Todd
Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739
©2009 Todd Clark - Beaverton Oregon Real Estate and more: Do your homework, but don't hesitate putting an offer on that home or you may lose it!
Hi Todd!
Why oh why do they hire us then not use our experience and knowledge to their advantage? At least they learned something!
Todd - We have gone through this type of scenario so many times lately... the last couple of houses - the buyers got it and with above asking price offers they ended up getting the homes of their dreams (bank owned homes). ~Rita
The market seems to be very hot right now. You snooze, you lose.
Todd,
This story is as sad as it is common. Like oist of life's lessons it can't be told often enough!
Bill
Todd, The only thing I get with fence sitters is slivers and ulcers...
Thank you for your insight,
Paul
I have had no less than 4 home buyers lose there chosen home because they didn't listen to my recommendations recently. By the time they took my advice the home was Pending.
I often find that buyers need to lose one house before they develop a sense of urgency. Sad, but true!
I think buyers always have to lose one house first before they actually get it.
I think most of us if not all of us tend not to listen and learn lessons the hard way. I'll keep trying to preach it though, hoping there is one person out there that will hear my message.
Todd - This is great advice. Unfortunately I've had buyer's do the exact same thing.
Great post Todd! I had a client who 'wanted to sleep on it' even after letting them know this house was a great deal! The following morning someone else put an offer in and it was accepted. He was kicking himself!
Its a shame they had to learn the lesson that way. At least you were able to find another home they enjoyed as much.
Ya snooze, ya lose! And this, of course, is the perfect example.