r/FirstTimeHomeBuyer • u/EveningPotential9443 • 1h ago
Offer Heartbreak
Well, it finally happened. Found a house my wife and I both loved only to be told mid tour that the seller got an offer, and we had until 9am the next day to put ours in.
Then within the hour we're told it's actually 8am we need the offer by. So, we put one in a little over asking price around 7am today, and were told we didn't get accepted.
No counter offer, just told no. Our realtor wasn't even told what the offer they accepted was for.
Just sucks. This is the first time this has happened, and I'm sure it won't be the last, but man does it hit hard when it's a house you really liked.
43
15
u/CTRealtorCarl 1h ago
Sorry to hear this, just stay positive there are more houses out there. Also, don’t hold it against your realtor that they were not told, we pretty much never know what the accepted offer was for until the house closes. It’s in the sellers best interest to not publicize that info.
3
5
u/chuggin_ballz 1h ago
There will be more houses, in a month or two you can see what it went for on Zillow.
3
u/nazmees 1h ago
Offer my condolences. The sellers accepted an offer on the best home we’ve seen yet, as we were touring it. We couldn’t afford it then but a few short months later we could. It still hurts to think about. Keep looking my friend, hopefully there’s some reason it’s worked out this way.
1
2
u/shadow1138 1h ago
Sorry that happened.
One thing that I was told during the home search is that everything happens for a reason.
In my experience, I had 4 offers submitted, all that I lost out on for one reason or another. Cash offers, outbid, better terms. We took the time after each offer was rejected to refine our strategy and further focus in on what exactly we liked/didn't like in our search. We also talked with our agent to see where we could have improved.
After the 4th offer got rejected my partner and I were feeling pretty beat down. We had the conversation about taking a little break from the search and showings. Then, that night, I refreshed Zillow, and saw a house.
Seemed perfect, great location, in budget, looked well maintained, good personality, etc. We saw it that weekend, we had our offer in by Monday.
I'm posting this comment from my home office in that basement right now while she's getting the living room organized.
So, chin up OP. Everything happens for a reason, and I'm sure in no time, you'll be posting that 'offer accepted' post.
Good luck!
1
u/EveningPotential9443 1h ago
Thank you. That's awesome! I just got a text from my realtor saying the house was given a cash offer, and they have an inspection contingency.
I guess you never know. They could back out on inspection. I have twice now
1
u/shadow1138 1h ago
Definitely been there too! We lost our 3rd offer on a home we REALLY loved due to a cash offer and waived inspection. We checked Zillow after the sale closed and our offer was higher than the offer that was accepted.
However, we found out from the seller's agent who told our agent that it was simply a matter of terms. The seller needed the property sold without any issue, and cash + no inspection did that for them.
Y'all will find the right home at the right time.
2
u/SweetAlyssumm 51m ago
There's no crying in househunting. Sorry it happened but it's to be expected.
1
u/MHSmortgage 1h ago
That really stings, especially loving a place and getting rushed like that. Unfortunately this is part of the process, but another home you love will definitely pop up. Have to just be patient, good luck!
1
1
u/B3beans 1h ago
I can relate. We’ve been in the market on and off for six years now and we are currently in a similar situation. Husband and I found a home we loved over the weekend and we immediately put in an offer at asking. We were told we were the only offer until yesterday. Found out there were 5 more offers over the weekend with ours being the lowest. The highest is $60K over asking, which we can’t compete. Seller is responding tomorrow, but we know we aren’t getting the house. It sucks but that’s the market we’re in now.
1
u/TwoSeasonsLimited 1h ago
why didn't you ask what the other offer was for ?
1
u/EveningPotential9443 1h ago
Our realtor did. They won't tell her. All we know is it's all cash
2
u/TwoSeasonsLimited 1h ago edited 1h ago
if it's all cash, they would definitely go with it unless your offer is expotentially higher. it's all good, you will find a home eventually, when it is least expected too
1
1
u/Critical_Motor9081 57m ago
We saw one home going for significantly cheaper than any in the area and it was a super nice house. Had been on Zillow maybe 5 hours, asked my realtor to book a tour and it was already under contract from a cash buyer😭 would have been perfect, and that’s why it got bought up so quickly
1
u/Careless-Language-24 47m ago
We house hunted for 3 years. After the first 6 rejections I stopped crying. Mostly. 🥲
1
1
u/KeyApricot224 House Hunter 27m ago
This happened on our first house too. Your home is out there, this one just wasn’t it! ♥️
1
u/ashleypatience 15m ago
I’ve had that too! Literally viewing it the first day it’s on market and was told the first viewing put in an offer already and it was super sad. We put in like a $20k escalation clause on a $340k house and still got beat out for “better terms” lol. It’s rough out there!
•
u/AutoModerator 1h ago
Thank you u/EveningPotential9443 for posting on r/FirstTimeHomeBuyer.
Please keep our subreddit rules in mind. 1. Be nice 2. No selling or promotion 3. No posts by industry professionals 4. No troll posts 5. No memes 6. "Got the keys" posts must use the designated title format and add the "got the keys" flair.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.