Buying A Home
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Update on multiple offers

FAIL! We didn't get the house. I'm feeling surprisingly okay with it. We really put together the best offer we could and there isn't anything we could have done differently. 

We were beat out by someone who offered 75% down (on a $400K house)!

Husband is less okay with not getting it. He got quiet and doesn't want to look at any more. I know that's a typical reaction - people get discouraged, take a break and try again. Any insight on how the guys deal with this kind of stuff? I know he's stressed, but I'm doing most of the work here and it's not that much of a burden to look at houses.

Re: Update on multiple offers

  • ugg!  75% down on 400k?  That is just crazy.  Keep looking you will find your house.
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  • It is crazy - in fact given interest rates, I'm not sure it even makes sense financially. You could make 10% on that investing it and you'd get more of a tax break on the mortgage interest. Clearly it just wasn't meant to be.
  • I'm sorry, that really stinks!  We didn't get the first house we put an offer on (and haven't found another yet) and it was definitely a HUGE let down.  It was harder on my husband since he was the one who first really fell for that house.  I'm not sure what to tell you aside from keep at it.  My H was pretty turned off for a couple months and basically ripped everything else we looked at apart.  I had to remind him that the first house just wasn't an option anymore and he needed to wipe the slate clean and move on.  He's gotten much better and has even asked me to remind him WHY he didn't like houses we saw during that time.

    Best of luck!

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  • Thanks - that sounds like what I'm about to go through. He says he still wants to buy a house, just doesn't want to look at them (and said it as though it made perfect sense). I'm going to leave him home for the next few weeks and only bring him if something is worth a second look. It's good to know it will probably pass though.

    Even if I feel completely decimated, I'm going to keep on trudging. 

  • Sort of a related situation: I got a little frustrated a few weeks ago because we have been looking hard and haven't found anything we liked. It was just overwhelming, and I think the process is that way sometimes. We took a little break from spending weekends househunting to do something fun with each other, and that really helped. Something to maybe try for you guys.

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  • This happened to us (we offered asking, they offered asking with 50% down, we lost the house) and we decided to take a break from looking.  Three weeks later our realtor called us about a new house on the market, two days later we made an offer, two days after that it was accepted.  We wound up with a much better house for a better price when all was said and done.

    I'm sorry this happened to you guys, but am sure it will work out in the end.

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