Hi Cynthia;

I feel for you,.. as an agent I know how frustrating it is from both sides, yours and your agents. Melissa is correct below,.. persistence is absolutely Key but there are some things that you can do,.. try focusing on HUD owned or VA owned homes,.. these governmental agencies tend to put more emphasis on their net than many banks do. If every buyer had the same likelihood of closing all banks would look at cash and at dinanced the same way. Here are some things you might try...

1.) Obtain a very strong Pre-Approval letter from your lender, stating that you are fully approved for financing pending the property and appraisal.

2.) Remove the inspection clause,.. be careful however NOT to remove the clause that provides you the right to terminate in the event of something huge,.. and then identify huge as a dollar amount to repair.

3.) Keep your contracts clean and easily understood,.. the people who review these offers at the banks are not Realtors

4.) Up your earnest money deposit to at least double what the banks are asking.

Your agent may have some other ideas that will be of help.

Do NOT remove the appraisal contingency.

Number 1,.. your Financing will be dependent upon it
Number 2,.. Do you "Really" want to risk paying more for a home than it's woth just because others are bidding you up??

Try doing everything on your list and bid above asking and release the appraisal contingency.

Cynthia as an agent in the same area, we get very frustrated too. I have a client that I've written at least that many offers and we keep getting beat out too. We offer over asking price and the all cash offer wins even when it's lower. Those scenarios tend to happen with REO homes and short sales because the bank wants to be done with it. You will have better luck against an all cash offer with a standard sale. I do have a listing coming up in Chino Hills that is a 4/3 1900sq.ft. that will be priced in the mid-400's. If you have written 15 offers it sounds like your agent has been working hard for you. Have them contact me so I can keep them updated. My clients don't want to move during the holidays, so we are waiting until after the New Year.

Good luck and keep writing those offers. Eventually one will stick.

Cynthia,
Have your agent check the MLS for closed sales of the property you submitted offers on and compare what you offered. Also, have him check who the selling agent was. At times unethical agents double end deals, request that your offer be rejected by the seller (bank) to make sure they submitted your offer.

Best Wishes,
Jes Sierra, B.Sc.
Realtor®

With all the short sales on the market 15 offer is not that many offers, banks can take awhile to get back to you. Stay active look at as many properties has you can.

Unfortunately some agents believe that cash offers are worth more because of the speed and some banks prefer cash offers. As an agent, if the difference is substantial, it doesn't make since to me, as long as the proof of funds, FICO scores, pre approval letter and debt ratio are current. I believe that money is money and if I can get more for my client the (seller) then that is what I do. If you are only talking 1-5 thousand dollars, I might recommend the cash offer. I guess if you remove you loan contingency and your appraisal contingency, then that might make you stronger, but I don't ever recommend that to my clients, because that is the safety net, but it is their decision.

Because of the amount of inventory, it's almost like it was 6-7 years ago when prices started going up and buyers were in a frenzy to buy, prices started going up and this whole mess began.

Good Luck:
Diana

Cynthia, It is happening to all of us as agents. You are not alone! The banks will take a cash buyer over a 50% down, then that over a 20% down and so on. It breaks my heart to see so many good buyers still not be able to purchase a house. Keep trying I know it will happen for you.

If you are not asking for closing costs, repairs, warranties and offering more than list price, then something is not right with this equation it doesn't add up. Usually you will loose out to a cash offer because with a cash offer the seller doesn't have to wait for financing approval. Is your offer contingent on a sale or close of your current home? Other than that I can't think of any reason why a seller wouldn't consider your offer.