Am I a desperate idiot
I’ve been looking for a house for 6 months. We started really, really seriously looking 3 months ago. We have found and lost 4 offers now. One was just a huge pricing thing - they wanted 545, comps closer to 490, we offered 480 and they countered 535. No compromise so we walked.
Second, third and fourth we offered full list price and asked for 10k in closing. One of them we went 2k above list and offered zero concessions on the day it hit market. Lost all of those offers to higher offers or appraisal gap guarantees. Are we legitimately in a market that this is happening?!
We’re in south texas. The market is slow and dead… supposedly?? We wait for these houses, make an offer the DAY they list when they meet what we need (4 bed, 3.5 bath, 2800 sq ft or more, good size lot, and in my kids school zone). We are on TOP of these listings daily. We have seen 3 homes pre-market and made offers pre-market. And our offers still aren’t winning.
Until now maybe. We saw a home yesterday pre market. Listed at 499,500. We offered 500k with 10k closing. They said we will take our chances with market but you can try to convince us. We revised offer to 500k with no concessions. It is still at the very top end of our “comfortable” budget and we’re not even sure it will fully appraise there, though they know we won’t pay above appraisal. Our agent said they’ve communicated verbally they’ll take the pre market offer. (I’ll believe it when I see it). I feel like we may be overpaying only to guarantee that we get A HOUSE at all and we may be settling.. but after the last four offers going as they have.. I don’t know how many more I have in me.
The other 3 homes that we lost all went pending day of listing and involved multiple offers. I have a very strong feeling that this home would be a similar situation and it is by far the cleanest - fresh paint, new bathroom renovations, newer HVAC, pool resurfaced, new pool pump, new high efficiency windows and plantation shutters, new water heater, new fence. Home built in 1998 but mostly updated except original cabinets in the kitchen. New appliances.
Do people genuinely get so beat down by the process they don’t even know if they love a home anymore and they just want a house to live in 😅