Desperate Buyers | Real Estate Blogging

Tuesday, May 03, 2005

Desperate Buyers

We have all heard stories about the desperation of potential buyers driving them to offer tens of thousands of dollars over the asking price just to be considered. In addition, buyers are now sending letters, photos and gifts to the homeowner trying to make themselves appear more worthy of owning the home. Has home buying turned into an audition?

In my experience over the past two months trying to purchase a home in Southern California, the extra effort on the part of the buyer seems to be paying off. My real estate agent suggested that I compose a letter to the homeowner describing my family, my education and my employer trying to plead with them to sell me their home. We made offers on 4 homes before getting one accepted. In the case of the home we are purchasing, I wrote a letter to the home owner, went to her door to speak to her personally, and increased the amount of money I was offering two times before we entered escrow.

I can fully understand the desperation on the part of buyers across America waiting for an offer to be accepted. Share your stories of home buying desperation...

1 comments:

Steve said...

Not just desperate buyers, but desperate sellers too. A few years ago we opted to buy a brand-new home. But to do so, we had to sell our existing home. The builder considered us as "contingent buyers".

The builder placed deadlines on us. We had to have our home up for sale by a certain date. By another date, we had to be in escrow, and by another date we had to have sold it.

We were able to meet those dates by fixing up our existing home REALLY NICE, hiring a realtor who specialized in our neighborhood, and dropping the price below all other comparable homes.

Fortunately, we met those dates, and was able to buy our new home. Had we not met those dates, the builder would have offered the home to another family. Likewise, we met at least three other families who tried to buy homes from the same builder, but lost out because they had trouble selling their existing homes.

Post a Comment

 
Copyright © 2004-2011 Clear Digital Media, Inc. Created by Blogger Templates. WP by Masterplan