We Put in a Bid for a House We Wanted, and We've Heard Nothing

violet Posted: Apr 21, 2005 12:15 PM

We Put in a Bid for a House We Wanted, and We've Heard Nothing

We put a bid in for 15k less than the asking price on Sunday. We just gave bid to owner, no realtors involved. I called on Monday to ask if my husband could see it (he trusted my opinion but he still wanted to see), and the girl said that she was going to call everyone that afternoon who bid. We were the highest bid that we knew of on Sunday. We never heard back from her. I called and left a message, and so did my sister. I give up. Couldn't they at least let us know that someone outbid us or at least have given us a chance to bid higher?

skprmiss Posted: Apr 21, 2005 12:31 PM

Re: We Put in a Bid for a House We Wanted, and We've Heard Nothing

I would definetely try again - there is no reason not to call...how are you supposed to know what is going on. However, if you do 'win' the house the sellers might be totally annoying simply because they can't even get through the bidding process easily!!!

LuvMyMichael Posted: Apr 21, 2005 01:16 PM

Re: We Put in a Bid for a House We Wanted, and We've Heard Nothing

call again. That's not right. They should let you know by now.

Good Luck!

DjPiLL Posted: Apr 21, 2005 02:00 PM

Re: We Put in a Bid for a House We Wanted, and We've Heard Nothing

You can try to call back... but sometimes its not just about the dollar bill.

Maybe they got their asking price on the house from somebody else and are happy with that.

Sometimes its not worth starting a bidding war for a good reason. Follow this logic on how a bidding war can be bad for a seller.

Lets say you bid 15k under. Then they get a good strong offer from person B for asking.

They come back to you and say bid more... you bid 10k over.

They tell person B that they got overbid and a bidding war has started. Person B then drops out of the market for that house.

Then after seller says your bid of 10k over asking is good... lets go to contract... you start to have buyer's remorse and decide to withdraw your offer.

Seller then goes back to person B and says they will take their original offer of asking price. Person B is pissed that the seller might have been toying with them... and person B tells seller to go f-off.

Seller is back to square one (when they had a perfectly LEGIT offer of asking price they SHOULD have taken).

Get my drift? And based on the amount of times I have seen people on this site make offers on houses and then withdraw them... this is something sellers must consider.

Jmg11 Posted: Apr 21, 2005 02:24 PM

Re: We Put in a Bid for a House We Wanted, and We've Heard Nothing

Regardless what the situation is - you are owed a phone call back, if you are obviously not getting one - move on - these people will only be trouble in the future!!!

violet Posted: Apr 21, 2005 02:38 PM

Re: We Put in a Bid for a House We Wanted, and We've Heard Nothing

Well I left another message today (I just left one yesterday) and asked if we could get any information and that if we were outbid, it would still just be nice to know. No call as of yet.

They seemed like the kind of people who wanted a bidding war because they had no problem saying what the high bid is (ours at that time), and on Monday, she said she was going to talk to the owner (her uncle I think) and then call everyone that afternoon, so I was under the impression she was going to tell everyone what the highest bid was so they'd have a chance to bid higher. We would have gone as high as 710k. The house was going for 690k. (Two family)

violet Posted: Apr 21, 2005 02:41 PM

Re: We Put in a Bid for a House We Wanted, and We've Heard Nothing

This house-buying business is depressing me. I'm going to be seeing another house later on. Wish me luck! My sister said the house looks huge and has a big yard. Hope the inside looks just as good. I don't mind a little fixing up, I just want to be happy with the layout of the house.

dkwife Posted: Apr 21, 2005 03:03 PM

Re: We Put in a Bid for a House We Wanted, and We've Heard Nothing

Posted by DjPiLL

You can try to call back... but sometimes its not just about the dollar bill.

Maybe they got their asking price on the house from somebody else and are happy with that.

Sometimes its not worth starting a bidding war for a good reason. Follow this logic on how a bidding war can be bad for a seller.

Lets say you bid 15k under. Then they get a good strong offer from person B for asking.

They come back to you and say bid more... you bid 10k over.

They tell person B that they got overbid and a bidding war has started. Person B then drops out of the market for that house.

Then after seller says your bid of 10k over asking is good... lets go to contract... you start to have buyer's remorse and decide to withdraw your offer.

Seller then goes back to person B and says they will take their original offer of asking price. Person B is pissed that the seller might have been toying with them... and person B tells seller to go f-off.

Seller is back to square one (when they had a perfectly LEGIT offer of asking price they SHOULD have taken).

Get my drift? And based on the amount of times I have seen people on this site make offers on houses and then withdraw them... this is something sellers must consider.

Are you in the mortgage biz?

violet Posted: Apr 22, 2005 04:22 PM

Re: We Put in a Bid for a House We Wanted, and We've Heard Nothing

The house I saw yesterday was really awful, like something out of a horror movie.

I called up today and finally got an answer. The girl told me that the owner was very busy with work this week and wasn't able to call everyone yet, and that he is not the only person whose the seller so he has to talk about it with other family I guess. I don't know, I hope this means we still have a chance, and I hope she's not lying.

She said he would call everyone either today or tomorrow. We'll see. Maybe he just wants to have another open house or something tomorrow?