Casualties of bidding wars

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Q: I have been house-hunting for several months now. I have gotten outbid on several properties where the listing agent said there were 15, 20 or 30 other offers. A few weeks later, the places came back on the market! What happened? Was there something wrong with me or my offer? Why did they not just come back to me or the next-highest offer, rather than putting it back on the market? Mine would have been a guaranteed deal! A: Reading your question was like reading my daily e-mails from my own clients! I've seen this happen a number of times, mostly with my FHA-financed buyers trying to buy bank-owned properties. I don't know enough about your offer to be able to say with certainty whether anything in particular was wrong with it, but I've been doing this long enough to know that chances are either the price wasn't right or you were bested by a seemingly more "closable" offer: a cash offer; one with more money down than yours; or one with a conventional loan (if ...