Home Buying in Detroit>Question Details

Chris, Home Buyer in Royal Oak, MI

I offered 67K for house asking 35K it sold for 32K to someone else I am MAD

Asked by Chris, Royal Oak, MI Fri Feb 27, 2009

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Andy Hargreaves’ answer
Hey man -- Go get a line of credit or something and become a cash buyer.

Either that, or have your agent physically present the offer to the other agent to make sure they get it and time stamp it or something. That way you know they got it.

Twice though? You're nearly offering double? If it's "that good" then there were likely many other offers. Are you trying to buy again with FHA? Keep in mind FHA is at the bottom of the barrel for many banks when it comes to priority of acceptance.
0 votes Thank Flag Link Wed Mar 4, 2009
Chris,

On the surface it appears you have every right to by upset. However, without a complete understanding of the details surrounding this event, it is impossible to try to make sense of it.

Many questions come to mind:

Did you submit a formal written offer?

Were you working with an agent?

Did you provide a deposit?

Did you request special considerations?

Were you pre-approved for financing?

Was the other offer a full cash offer?

Are you certain the seller recieved your offer?

As presented, this just flat out doesn't make sense........But there are always reasons
0 votes Thank Flag Link Sat Feb 28, 2009
Hey Chris I don't know the condition but the other offer may have been cash. The banks need to look at everything about the offers including the condition of the house. If it needed tons of work it may not have been mortgageable.. Have your agent check with the other agent.
0 votes Thank Flag Link Fri Feb 27, 2009
So this happened to you twice??? Something is fishy here...
Web Reference: http://www.DoorToDreams.com
0 votes Thank Flag Link Fri Feb 27, 2009
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