Buying Your First Home Vol. Gone Pending

[jibbycanoe]

Hello NT.

I am not a regular thread starter on here but lately I have been trying to buy my first home and am currently getting stressed/annoyed at the process. I'mhoping that after explaining my situation that other people will share their experiences and thus grant me greater perspective. I will just insert thecliffnotes here, as I have come to know you well NT..

CLIFFNOTES
1) trying to buy 1st home, pre-approved on the low, but adequate, end
2) made one offer, seller stalled then counter offered something crazy
3) saw a sweet one, got ready to view/offer, went pending
4) saw the only one so far that seemed just right, viewed, set up to make an offer, went pending
5) know my life could be worse but interested in your experience

FULL STORY

As stated, I am in the market to buy my first home. I am pre-approved for up to $210,000, which is enough to get a fairly decent home in Portland, Oregonthough not in the prime areas of town.

I made an offer on one home which was in the process of being resided and painted. Part of the offer was that I would be able to choose the paint color. Thesellers kept putting off responding to my offer for more than a week at which point they basically counter offered by relisting the thing at $13,000 greaterthan the original listing and $22,000 greater than my offer.

Next I find a gem of a house and check it out on all the maps and web sites, had my girl (don't ask for pics) go out and see it while I was at work, andwas getting ready to check it myself and most likely make an offer.. and the thing went pending that day.

Then I end all restrictions to areas where I would consider living, make a trip last Sunday and drove by 22 homes. Found 4 that were of interest, but one thatreally felt right. The first one that actually felt that. So I set it up to view yesterday, go check all 4, and the one is just right. I will spare you thedetails. So it's late Monday, and we talk about everything to put an offer in today. Realtor calls me today... went pending late last night.

So at this point I'm not really into doing this anymore and getting my hopes up. I know there are far worse things that could be happening to me and thatI am lucky to even be in the market considering the economy, but I am just wondering what other peoples experiences have been. How many went pending on youbefore you got one? Do you still think of the "one that got away?" Do you have any advise/tips? I know there is plenty of information out thereabout this, but I do consider many of you to be my peers and thus value your thoughts. Thanks ahead.

And because I know NT loves pics, here is a random one from my bucket...


PEAS

 

[jbug88]

ehh, just keep looking dude.
my wife and I found MULTIPLE houses that we thought were the one only to have our agent make a call and have the "sale pending" thing happen.
BTW, I just closed on my house today. about 30 minutes ago. One of the best feelings in the world...

-J-

 

[teeoh owens]

been going through almost the same thing. %@*# gets annoying

 

[taz92]

I know how u feel. I got rejected 6 times before I finally got into my house few months ago. It will get frustrating and to the point where u want to quit butu just have to keep pushing and eventually all your hard work will pay off. Good luck man

 

[jibbycanoe]

thanks fellas. I appreciate it. I figured it was the norm but man it's annoying. at least now I am expecting it... thanks again and props to y'all forsticking with it and congratulations JBug88

 

[ooiron manoo]

Originally Posted by JBug88

ehh, just keep looking dude.
my wife and I found MULTIPLE houses that we thought were the one only to have our agent make a call and have the "sale pending" thing happen.
BTW, I just closed on my house today. about 30 minutes ago. One of the best feelings in the world...

-J-

Congratulations JBug!

I went to view a house today,

. Nice from the outside, it was beatdownon the inside.

Pass. Home buying is very frustrating and will test your patience. However, good things come to those that wait.

 

[oxygen800r]

we've been searching for 3 months now. everything, and i mean everything we've even been remotely interested in has gone pending. found a prelist thatlooks kind of promising. going to check it out tomorrow with our agent and we're just hoping things go our way this time.

 

[i drink your milkshake]

Originally Posted by jibbycanoe

Hello NT.

I am not a regular thread starter on here but lately I have been trying to buy my first home and am currently getting stressed/annoyed at the process. I'm hoping that after explaining my situation that other people will share their experiences and thus grant me greater perspective. I will just insert the cliffnotes here, as I have come to know you well NT..

CLIFFNOTES
1) trying to buy 1st home, pre-approved on the low, but adequate, end
2) made one offer, seller stalled then counter offered something crazy
3) saw a sweet one, got ready to view/offer, went pending
4) saw the only one so far that seemed just right, viewed, set up to make an offer, went pending
5) know my life could be worse but interested in your experience

FULL STORY

As stated, I am in the market to buy my first home. I am pre-approved for up to $210,000, which is enough to get a fairly decent home in Portland, Oregon though not in the prime areas of town.

I made an offer on one home which was in the process of being resided and painted. Part of the offer was that I would be able to choose the paint color. The sellers kept putting off responding to my offer for more than a week at which point they basically counter offered by relisting the thing at $13,000 greater than the original listing and $22,000 greater than my offer.

Next I find a gem of a house and check it out on all the maps and web sites, had my girl (don't ask for pics) go out and see it while I was at work, and was getting ready to check it myself and most likely make an offer.. and the thing went pending that day.

Then I end all restrictions to areas where I would consider living, make a trip last Sunday and drove by 22 homes. Found 4 that were of interest, but one that really felt right. The first one that actually felt that. So I set it up to view yesterday, go check all 4, and the one is just right. I will spare you the details. So it's late Monday, and we talk about everything to put an offer in today. Realtor calls me today... went pending late last night.

So at this point I'm not really into doing this anymore and getting my hopes up. I know there are far worse things that could be happening to me and that I am lucky to even be in the market considering the economy, but I am just wondering what other peoples experiences have been. How many went pending on you before you got one? Do you still think of the "one that got away?" Do you have any advise/tips? I know there is plenty of information out there about this, but I do consider many of you to be my peers and thus value your thoughts. Thanks ahead.

And because I know NT loves pics, here is a random one from my bucket...


PEAS

on that price, what downpayment were you looking at? I'm (starting) to look for a duplex.....still all talk at this stage tho, I think I'mma justrandomly go start driving by listings tho to get my mind right.

 

[cjspida619]

im in the same boat as you man me and my girl been puttin tons of offers and these damn investors come in and out bid everyone, it is very frustrating but wehave a good realator who does good work on finding out about places for us. but we wasted about a month and a half with a other realtor who didnt put in thework for us so it was a waste of time with them.


we have on offer on the tabe right now and im praying that everything goes good , last time we checked we had the best offer but the seller was entertainingmore offers so we had to bump ours up some,


how much of a down payment are you puttin? down we have $26000 to put down

 

[jibbycanoe]

Originally Posted by I Drink Your Milkshake

Originally Posted by jibbycanoe

on that price, what downpayment were you looking at? I'm (starting) to look for a duplex.....still all talk at this stage tho, I think I'mma just randomly go start driving by listings tho to get my mind right.

minimum down payment is 3.5%. from what I have learned, putting more than that is really pointless unless you are going to put 20-25%.. andwhile $210,000 might buy a nice house in some places, it doesn't get much in PDX unless it's way out there (north portland, 82nd). now I know it'snot as bad as CA, NY, etc., but things went up a lot over the last decade seeing as how so many people find it to be such a desirable place to live..
anyhow, it's good to know that I am in the same boat as everyone and not just having bad luck. thanks for sharing fellas

 

[cjspida619]

man i wit you bro this stuff make me wanna punch babies and grandmas in the face how frustrating this is. i hope we all get what we want