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Competing Offers on Our House

So, someone made an offer on that house we were considering. I really like the house and want to put in an offer as well. Carey's still very much on the fence about it. Thing of it is: we have an hour to decide.

If you look at it one way, we have nothing to lose. We can put in a lower offer than we think would win and, if we do win, get a great house for a great price. And if we don't win, oh well.

The whole process is very nerve-racking, but I'm maintaining a pretty even keel about it all. We're in pretty good shape and will continue to be whether we get this house or another one in a month or two. Interest rates are slowly ticking up, so there is incentive to jump now rather than later.

Carey and I will be talking in about 30 minutes. If we want to put in a bid, we'll be meeting our buying agent back at the office later tonight to put together a bid. If we pass, well, I think we're going to go to some open houses on Sunday.

4 Responses to "Competing Offers on Our House"

  1. Update is short: we decided not to compete. We're not even certain the other real estate broker (the seller) isn't just making it up.

  2. Supposedly they're now in negotiations. So, Carey and I have passed, though we'll remain interested to see both if it sells, and if so, for what price.

  3. We ran into this 4 years ago. We were trying to move, and were house-shopping. We found one that fit all our requirements, but the master-bedroom was screwed up: the bathtub was in the master bedroom, in the corner, outside the door to the master bath. Which was tiny, with just a stand-up shower.

    But the price was excellent. I wanted to go for it. My wife didn't. We hemmed and hawed about it. Debated it... and debated.

    End of it was someone put a bid on it and the seller took that bid same-day. Suddenly it was unavailable to us.

    My stomach was in knots. I was feeling like a chump thinking we'd missed the deal of our lives.

    It ended up that it was the right thing for us to do, and we're better of not having got that house.

    House shopping, and selling, can be very stressful! 🙁

  4. I'm actually pretty non-stressed. Stuff happens for a reason, after all.