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Old 09-27-2005, 11:29 PM   #11
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Well we found out tonight we didn't get the house.....still don't quite understand it. The attorney that was handling it went with the other bidders bid that bid before us. I guess they'd been working on a deal for 2 weeks. The only thing I can figure is its someone the owner knew and wanted to get the house so they took the lesser bid.........stupid in my opinion but oh well I guess it wasn't meant to be.
The realtor did say that there is a house coming on the market that will suite us better and she's suppose to have all the inf. tomorrow. I'm a little bummed because I got really excited at the aspect of doing another remodel...........I can't believe I said that....said I'd never do that again. Spent all day making out a floor plan and filling all the details.....I was so sure we'd get it. Oh well...........we did find a truck for DH.......can't live in it but at least something turned out right today.
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Old 09-28-2005, 07:49 AM   #12
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That's too bad!

But don't get too about it. There are other houses out there! You might ask the RE agent why your bid wasn't accepted, just to help you in thinking about future bids. But remember that the RE agent doesn't work for you.
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Old 09-28-2005, 09:14 AM   #13
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Jennyema is correct. A RE is not someone that will be working for you. There is a whole network of people that make a living buying distressed real estate. Sometimes you can find a group in your area that you can join and share ideas with. Other sources are banks called REO's (real estate owned) properties that they have foreclosed on and really dont want, they will go out of there way to help you get these properties off their books, banks do not want to own real estate. Another source is the county building in your area to check the tax rolls, where you can find properties that will be sold for taxes due (this is public record) . A final source is just driving around your neighborhood, when you see a house that is very poorly maintained it is
usually a sign that a sale maybe coming soon, (divorce, death, job loss), are all reasons for this. and for looking for this kind of house.
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Old 09-28-2005, 09:45 AM   #14
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Thanks for the advice. The realtor said she wasn't sure why our bid didn't go through she thought the attorney would want a bidding war. She said she didn't know why it happened and sometimes things happen that don't make since. I didn't ask her what the closing bid was but I will when she calls me with the other houses information. Oh well like I told DH it wasn't meant to be evidentally because I prayed if it was something we were suppose to do then it would all work out. I really had some awesome design ideas though........that would of worked well with this house. Oh well I'm done fretting about it. Thanks everyone!
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Old 09-28-2005, 10:47 AM   #15
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Sorry you didn't get the house, Sizz. Sounds like you would have had to build a house around the fireplace. Is that legal - to go with a lower bid? Odd. Maybe something better will come along. HUD might be another resource. Re looking in a rundown area for a lower price - I was shocked to learn, in some cases, when a homeowner can't come up with the payments & the bank is going to repossess/foreclose, the homeowner sometimes takes revenge & "trashes" (wrecks) the property, even in the best of neighborhoods. I've noticed doors that look like they had been kicked in & patched up, & put up for sale. People do strange things under pressure.

Re realtors - I had to fire the last one who told me it would cost me $30 to close. I knew that was not correct. Plus he was one wacky guy. The last property I sold, the realtor strongly urged me to take the first offer as it might be the only one I get. I never should have listened. Saw the property I sold, come up on the market at a much higher price & gone/sold in a very short period...btw, beautiful area, perfect condition, upscale neighborhood, well manicured/maintained grounds, all the bells and whistles.

I've been looking for another property for a few years & nothing is available here that I would/could consider even though my property has almost tripled in value. Have even thought about getting out of L.A. & relocating - something I don't really want to do. Have seen ads run on tv for an 800 no realtor phone number. Don't know how that works & if I'd be taking a big risk. I feel "stuck" and frankly a little depressed. Sorry - don't mean to go on and on here - but it's probably one of the most important and costly decisions I'll ever have to make. So...go slowly & hold out for what you really want.

P.S. If I never see another carboard box again, I'll be a happy camper. Best of luck, Sizz.
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Old 09-28-2005, 11:34 AM   #16
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This is the same realtor that worked with us on selling our other house.......she did a really good job with that.
I'll just be glad to find another home. I said that I didn't want to do another remodel but I really do love doing it. If there was a school close for interior design I'd be signing up.
Sorry your fretting with selling/moving.....hope it works out for ya.
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Old 09-28-2005, 11:48 AM   #17
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The seller can accept any offer they want to, really*. But most of the time they accept the highest one. But it's common to accept lower offers if the terms are better (cash, for example).

The RE agent may be able to tell you if there is anything either positive (eg, cash offer) or negative (eg, contingent on sale of other property) in the terms of your offer -- may be helpful when you are thinking of making future offers.


* assuming they are not violating other laws, eg. discrimination, etc.
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Old 09-28-2005, 12:08 PM   #18
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Sizz, glad you are happy with your realtor. When you're ready to rent it out, sure there will be many landlords or other resources to guide you when that time comes.
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