Buying a house Stinks!!!

This house buying thing is no fun!!! We are in a bidding war for a house we really love. First off I hate talking to the owner directly. Even though it costs more dealing with a realtor would make this easier. Secondly I have doubts that this 'other' bidder even exists!

Could it be possible we are bidding against ourselves?

Oh the misery!

It is possible. But it's so hard to tell. The only way to tell is to say 'o.k. let them have it, but if it falls through we are still interested' and see what happens. But if they are real, you risk the chance of losing the house

That's one of the problems buying directly from the owner...the market is stablizing a bit now, so they could wind up accepting less than the asking price. Don't give up hope - GOOD LUCK!!!!

p.s. Jen - did you get my FM regarding Belmont??

That is what we are thinking. My dad keeps saying if it is meant to be it will be...blah...blah.....but we really love the house If I ever find out that I am bidding against myself there will be hell to pay!!! How can people do that? The whole thing is just shady.

UGH!!!

Marni- we went to Belmont just long enough to make bets. we one a few hundred on the belmont. We bet 1, 6 exacta box in the belmont!!! We got very lucky!!!!

We had a great time despite the rain!

I know how you feel! We keep getting out-bid on houses we love and it really, really stinks to get your hopes up and then get let down. I cannot believe all the crazy bidding stuff that goes on in real estate -
Good luck

I just wanted to add, if you lose this house for some reason, don't worry.

We signed a contract when we bought our first house in Selden, then got the engineers report and there were a few things. It really needed a new roof, total rip off. We tried to negotiate down (Actually offered to split it 1/2 with the owners). They would not budge. 3 weeks later we found another house, a little less and in so much better condition, and we ended up liking the style better


The same type of thing happend when we started looking again in Nassau. We really liked a house in Bellmore, but the owner did not want to wait for 3 weeks extra to leave, which would have meant that the closing would have fallen smack in the middle of our honeymoon. We even offered 3,000 more to have her wait, she took the extra $ offer, but then decided did not want to wait.

A month later we found the same exact house, in Merrick, in better condition for 30k less

Sometimes it works out better in the end for you!!

UURRGGHHH - is all I have to say about buying a house!!! All my free time now is spent looking at houses - and it really is not fun!

The prices are so outrageous!!!

Thanks Liz- That makes me feel a little better!

And Jeanene I hear you on the prices!!!

I will keep you all posted!!!

Hey Jen! It is definately stressful and VERY annoying at some points, but it definately pays off.
As some of the other girls said, the house you finally get will be the one meant for you guys. We had found a house that we were ready to go back and put a bid on and then on a whim we decided to look at another one and that is the one we wound up loving and getting. So, yes, if it is meant to be it will happen!

awww Jen keep a positive outlook, I hope it all goes well. I have heard of some of the sneaky tactics that goes on. All the best and let us know.

Jen - Try to stay positive and I really do believe that if its meant to be it will happen. Have a limit in your head of what youre willing to pay and don't offer any more than that...you may get it anways.

We bid about $60k LESS than asking on our house (for sale by owner) b/c it was what we were willing to spend on this particular house. Well, we never heard back from the woman until THREE MONTHS later - She calls to tell us the original deal fell through and she would be willing to accept our offer if we still wanted it. Turns out she was paying for two mortgages and just wanted out. We also saw houses in much worse shape for more money etc. But in the end I really believe we wound up where we should be. Just like YOU will!!

Part of my real estate motto is that I refuse to get into a bidding war.

If you have bid a fair price but there really is someone out there who wants to bid more - let them have it. There are too many fish in the sea to spend your hard earned money on a bidding competition.

Stef- I have yet to find a nice house that hasn't turned into a bidding war. The houses on LI are often selling for more than the asking price. If we get very lucky we may be able to get into a situation where we won't have to bid against someone else but even still we will have to wind up haggling with the owner to some degree.

Did you not have to do any of that to get your house?

Honestly Jen- the condo and this house were NOT a bidding war at all. I have known people who lost homes because someone offered more than the selling price right away though. But honestly remember that a relator is working for the SELLER, not the buyer (aka you) SO they can be very sneaky at time. I purchased both my properties from the owner directly and found it to be a lot easier.

Sorry it's been so rough. Where have you been finding houses?

Good luck in the 'war' Jen!

We are starting our home search now. New Jersey is no different, let me tell you.

Hugs, and good luck to you and Matt!

I just wanted to wish you luck!!!!!!!!!!!