I’ve lost out on some more desirable homes the last few months. Some due to flippers waiving all contingencies, others due to under bidding-not by much-like by 10k. So, I’ve been waiting to find a spot that’s been sitting for a bit and make a well supported offer.
I did so much research on my last offer. I had a list of comps, I priced out all the things that needed repairs, I put together a monster down payment, and the house had been sitting on the market for 3 weeks with no other offers. So, I put together an offer that I thought was fair. I sent it in and waited and waited only to be ghosted by the sellers.
I asked how my broker responded and she said she just encouraged them to make a counter. No discussion about the fact that the house is over priced, no pushing on comps in the area, all the repairs that are needed, no advocating how my offer was fair… nothing. All I got back is a recommendation to increase my offer by another 50k, and drop inspection contingencies. If I did that, I would be under water in a month.
Has anyone had any similar experience? What did you do? Do brokers just not know what to do in a more balanced market? Do I just need a different broker?