Don't get discouraged. Here's a few things to consider:
1. At that price range, you are probably one of several (if not many) cash buyers. These properties
attract investors literally, by the dozens.Most of these properties go well above asking price.
2. Personally, on an REO or short sale, I would never advise my buyer to submit a deposit check on
offer. You would then be at the mercy of a bank's time frame. And THAT is not a good thing..ever.
3. Honestly, if you've been at it for a year, and put in only 15 offers, you're probably not aggressive
enough. I know that sounds counter-intuitive. But in this market, with ALL the other buyers
competing against you, that number should easily be double or tripled.
4. In the REO world, you need to have patience that would make a monk blush! Whatever you may
have considered "normal" in your previous home buying experiences,this isn't it.
I hope this helps.
Boca's Best Broker
2424 N. Federal Hwy #318
Boca Raton, FL 33431
The evidence (you have not purchased a condo) clearly indicates your offer are/is noncompetitive. You believe as stated in your text, "making sure the offer is competitive" is clearly incorrect.
Do a bit of research on the actual selling price of the condos you lost. If this historic data shows price is the issue, you meed to offer more money for the condo you want. Be aware, the statistics you use to calculate your offer is YESTERDAY'S data. Adjust accordingly.
Removing the inspection contingency does not mean you can not have the unit inspected. Discuss with your real estate professional the buyer protections in place. They are significant.
All offers need to reflect the 'sincerity' of the buyer with an appropriate deposit. There is a REAL cost the seller will incur should you fail to purchase. Your strategy to submit the deposit upon offer acceptance is not an issue and should be continued.
The only short sales you should consider are those your agent has listed. PERIOD!
Best of success in your condo purchase,
Annette Lawrence, Broker/Associate
Remax Realec Group, Palm Harbor, FL
Keep on plugging.