Why the high offer gets snubbed

Home Sale Hindsight

Q: I’ve been making offers on homes for what seems like forever. I make offer after offer, and don’t ever get them accepted. I’ve been doing this for so long, though, that a number of the homes I didn’t get have closed escrow and their sales are now public record. I’m seeing that some of the places sold for less than I offered. Why would the seller take an offer lower than mine?

A: Doesn’t that make you crazy? I also work in a market where most first-time buyers face (and get outbid or rejected) in multiple-offer situations time after time before prevailing and getting "their" home.

Some of my clients face the same exasperating reality — they usually lose a few homes while they’re becoming educated about the need to offer more than the asking price in what they thought was a smoking buyer’s market and then see that a few of their lost dream homes actually sold for less than they had offered!