“I’m so sorry, they went with another offer.” It’s a shocking thing to hear; you’ve already moved into that dream home in your mind. It’s common to start second guessing yourself, even condemning yourself for not offering more money or better terms, but the truth is sometimes it just doesn’t work out. The market in Los Angeles, and specifically the San Fernando Valley real estate market is competitive. There are certain price points for home sales, especially anything under $1,000,000, that go quickly and typically with multiple offers and unfortunately, you may lose a few homes before your offer is accepted
. The next step is to figure out how to move on.
• Go Ahead and Mourn – It’s perfectly reasonable to mourn the loss of the “perfect” home.
• Take a Break – This might not be as easy as it sounds if you need to move, but even a short weekend off to regroup and refresh will allow you to continue the search.
• Understand What Went Wrong – It may be that you did nothing wrong and the seller got an all-cash offer 20% over asking, but it’s still a good idea to talk with your agent about your offer, make sure you truly offered a fair price with reasonable terms and if not, make adjustments next time.
• List What You Liked About the Home – Make a list of the features you liked about the home – open floor plan, big yard, expansive view, etc. This will allow you to watch for these features as you continue the search.
Losing out on your dream home is sad, but it doesn’t mean you won’t find another home you love just as much. Take some time to think through the experience and keep going – there are so many homes to choose from, you’ll find another home to love.