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View Full Version : Made an offer! Now we wait...oh the stress



TrotTrotPumpkn
May. 19, 2011, 10:08 AM
Decided to offer on the five acre place! Had this great strategy laid out, low ball because it's been on the market almost 300 days, yada yada yada and our realtor called the listing agent and she said, "I sold the house today." Had a couple go through who's agent couldn't make it down and they said they were absolutely going to buy it and to expect an offer that afternoon. Ugh. [Oh and I saw them--I did a drive-by over my lunch hour and saw the people looking at it. So I don't think she was making it up.]

So much for my strategy. We submitted our offer late last night (I had to get preapproval arranged quick and all that good stuff) and I think we made a firm offer. The weakness is it is contingent on the sale of our house...

So now we wait. We gave them 24 hours. *sigh*

I will be relieved either way. Really.

SilvyFilly
May. 19, 2011, 10:16 AM
Oh!!! I hate the waiting game. It's so nerve wracking. I hope it all works out for you guys though! BTW Where in the "upper midwest" are you located?

TrotTrotPumpkn
May. 19, 2011, 10:18 AM
Sioux Falls. I used to live in the Twin Cities though (not sure where in MN you are).

fordtraktor
May. 19, 2011, 10:28 AM
Fingers crossed for you!

SilvyFilly
May. 19, 2011, 10:36 AM
I am from Rochester but am currently living in the Duluth area.

ladybugred
May. 19, 2011, 10:57 AM
Good Luck!!

LBR

TrotTrotPumpkn
May. 19, 2011, 11:06 AM
I am from Rochester but am currently living in the Duluth area.

Oooh North! I went to a really fun bachelorette party in Duluth once (well I guess the wedding was there too). It was all on a lake. Good times!

2DogsFarm
May. 19, 2011, 12:02 PM
All digits crossed!
Both for your offer to be accepted & for your place to sell ASAP!

BTW - I'm impressed anyone accepted a contingency clause in this market.

Big_Grey_hunter
May. 19, 2011, 03:49 PM
My fingers are crossed! How many acres?

heavensdew
May. 19, 2011, 04:56 PM
Ugh! I totally feel your pain! We put in an offer on a 10 acre farm a month ago and our offer was accepted IF (giant IF) we sell our suburban house by the end of July! I am going nuts waiting for someone to even come SEE the house let alone buy it. Just not fair....:no:

TrotTrotPumpkn
May. 20, 2011, 10:15 AM
They didn't! Accept a contingency clause that is. They accepted a different offer from a buyer who could close immediately.

Oh well.

The thing is, I can't just sell my house to go acreage shopping. I have two huge dogs and two cats and there are no rentals that allow two big dobermans that I'm aware of. Pluse it can take years to find the right place.

SilvyFilly
May. 20, 2011, 10:57 AM
Well you know I think its very unfortunate that it didn't work out, but maybe it just was not the right time yet. You will find something out there that will work out perfectly for you. Keep looking!

fordtraktor
May. 20, 2011, 11:02 AM
So sorry. It sucks to get your hopes up and then nothing. The next one will be even better, I bet!

TrotTrotPumpkn
May. 20, 2011, 11:46 AM
Thank you guys! I know it is lame, but I'm having a bit of a pitty party today. :(

I have to remember houses are like horses, there is always another one...

msj
May. 20, 2011, 12:37 PM
When I went farm shopping I missed one that looked really promising. I just figured if it was meant to be great and if not, well..... :(

Yep it sucks but keep saving your $ and you'll find the right place, honest. :)

AKB
May. 20, 2011, 03:00 PM
My daughter missed out on a nice house 2 years ago. It took her another 1 1/2 years to find another house that she was interested in. That seller accepted her bid after some brief negotiations. A month later, she had her house and was moved in. The first house was nice, but one she bought is so, so, much nicer.

Sometimes things happen for a reason. Keep saving your money and keep looking. This is a great time to buy, if you find the right house.

Big_Grey_hunter
May. 20, 2011, 03:20 PM
I'm sorry :( Hopefully you will find a great place soon :)

Leprechaun
May. 23, 2011, 11:51 AM
Good luck.

AnotherRound
May. 23, 2011, 08:11 PM
Mm. I would put your house up for sale. Keep looking, and when your house sells, have something ready to go for yourself. Truly, there is probably no way you can't find a place if your house sells and there is no way you will sell your house just because you found a place.

I would be very surprised if you couldn't find a large property to rent for 6 nmonths if your house sold. Many many places just aren't selling and getting 6 monts of income would be a blessing to many people.

Put your house up for sale and sell it. You will find something to sort yourself out temporarily if need be, but i bet you will have your pick of places if your place has sold.

Calamber
May. 24, 2011, 07:09 PM
Decided to offer on the five acre place! Had this great strategy laid out, low ball because it's been on the market almost 300 days, yada yada yada and our realtor called the listing agent and she said, "I sold the house today." Had a couple go through who's agent couldn't make it down and they said they were absolutely going to buy it and to expect an offer that afternoon. Ugh. [Oh and I saw them--I did a drive-by over my lunch hour and saw the people looking at it. So I don't think she was making it up.]

So much for my strategy. We submitted our offer late last night (I had to get preapproval arranged quick and all that good stuff) and I think we made a firm offer. The weakness is it is contingent on the sale of our house...

So now we wait. We gave them 24 hours. *sigh*

I will be relieved either way. Really.

There is no way a contingency to sell would ever pass muster in any case. If it ever came to that, you would most likely get a timeframe in which to sell. In our market area that would be laughed at, of course the real estate agent might indulge you a bit, but reality is, people are selling their houses because they need to sell. Very rarely is someone in good enough shape financially that they can wait for what could turn out to be a year or even years in some cases that I have seen.

witherbee
May. 25, 2011, 09:35 AM
When we bought our 10 acre farm in FL, we had not sold our house in MA. It was very scary, but we managed both properties until the house sold (took almost 6 months). We are glad we did it, as this property is great and we got a great price on it. I know it's not possible for everyone, and we did not think it would be for us, but we made it work. Good luck!

MunchkinsMom
May. 25, 2011, 01:28 PM
When we bought our 10 acre farm in FL, we had not sold our house in MA. It was very scary, but we managed both properties until the house sold (took almost 6 months). We are glad we did it, as this property is great and we got a great price on it. I know it's not possible for everyone, and we did not think it would be for us, but we made it work. Good luck!

Same here, we were pretty tense for a few months hoping for a buyer for our CT home while we had the sales agreement on this farm (and I don't recall if we had a contigency clause or not, we might not have). We got incredibly lucky, and a buyer for our CT house came along just in the nick of time.

Leprechaun
May. 25, 2011, 04:14 PM
I don't think many people can accept a contingency for the sale of another property. We've turned down two that had other props to sell, which I've watched, and are still for sale. We'd have all been nowhere anyway. Don't take it personally. I agree with putting your farm on the market first, watch the market you're interested in moving to, and then you'll be all set when you sell. Maybe an even better property will come along for you.

Fancy That
May. 27, 2011, 03:59 PM
We looked for a year and offers fell through on 3 ranches before we got ours and as devestated as we were with each place not going through....it's ALL MEANT TO BE because we LOVE the place we ended up getting. It is THE BEST for us :)

We are so happy we DIDN'T get the other places we made offers on, in hindsight. VERY glad :)

You will find a better place. I'd sell your house, move into a rental (plenty of horse properties for rent where you can move your dogs, etc) Or even regular homes with big yards :)

Then just keep looking for your dream property.

good luck!