Ugh.. Hate that. Fortunately for us, every time we came across a house we liked, it was THE house. I just made an offer right then after we left the property. If it was under contract and we really were interested, we put ourselves on the wait list. I've seen houses go through 3-4 people on the wait list when the buyer couldn't secure a mortgage.
That's the other thing, get pre-approval. That sheet of paper gives you a lot of leverage.
I had an agent that didn't take me to houses until they already had other offers. I got a new agent who took me to a house before anyone else had seen it, and I got my offer accepted before others were able to visit. Maybe my new agent had local connections and the others were only relying on MLS to find out about new houses. The house likely would have cost more if I had to compete with other buyers. Speed counts.
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timeasmymeasure
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Date: 2008-10-16 06:35 pm (UTC)That's the other thing, get pre-approval. That sheet of paper gives you a lot of leverage.
-Tyme
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Date: 2008-10-16 06:55 pm (UTC)no subject
Date: 2008-10-16 07:25 pm (UTC)Found a third choice yet?
no subject
Date: 2008-10-16 07:55 pm (UTC)no subject
Date: 2008-10-16 08:47 pm (UTC)http://www.nytimes.com/2008/10/16/business/economy/16housing.html?em
Get a new agent.
Date: 2008-10-16 08:55 pm (UTC)no subject
Date: 2008-10-16 09:22 pm (UTC)