The excitement of buying a home can be a pivotal moment. The decision was made...it's time to move! You've gone throught the process of getting pre qualified. Seemingly mountains of documents that your lender has asked for, to finally be ready to make an offer on your dream property. You have seen properties come and go. Your Realtor said you must be pre qualified first before you could make any offers. She also said you needed to have your house on the market and it MUST be pending for you to make an offer. Done, done and done! You are READY!
You look at the few homes on the market and finally find "the one". It is perfect, you make that big decision to make an offer. You think it's a pretty great offer. You even included a picture and a nice letter for extra persuasion. The escalastion clause your Realtor suggested was brilliant. You think it is fool proof...the houe is pretty much yours in your mind.
Then you get that call...you lost the house to a all cash offer. Or a buyer that outbid you. How can this happen? There is nothing else on the market that you even liked! The rage builds. The injustice! You sleep on it and realize, these things happen. Then it happens again and again. Before you finally won the bid on "the one" house, you are exhausted and frustrated.
This is a typical scenario for buyers in the Treasure Valley right now. The inventory is steadily decresing. Buyers are becoming ftrustrated with the quality of homes available and the emotional roller coaster of putting multiple offers in on houses before winning the bid. So what can we do as buyers, sellers and Realtors to ease the frustration. In addition to being pre qualified and having your home pending or sold, I have three suggestions. If these don't satisfy you...let's talk about building. First read below....
1. Patience and forgiveness. The days of quick and easy are gone. Expect to have to put a few offers in before you get the house you want. Forgive yourself for not coming in first. Don't beat yourself up thinking you made a bad decision on selling before buying. In this market, if you are a contigent buyer (have to sell a house before you can buy) you might as well not be a buyer. The market is that competitive. I mean, with your house on the market, would you accept a contigent offer? No.
2. Broaden your criteria. With low inventory, be creative about what you are looking for. As your agent, I take time to search "live" on MLS. When I look with my buyers, I can manipultae the criteria to show homes they wouldn't have considered before. Making it a win/win.
3. Write a personal letter. Writing a letter about why you love the house, what you imagine yourself doing and include a picture of you. You and your dog, you and your family. Just include a picture that is representative of you. Sellers are people too and you just never know what will hit the heart strings and give you the advantage.
The buying process in these low inventory days are a little challenging. With patience and forgiveness, broadening your criteria and writing a personal letter, you may just enjoy the process a little more. But if these don't help, you may want to build. Call me with any question. I am here to help! 208-918-0749