fbpx

For Home Buyers That Recently Lost A Bidding War

Hi this is Glen Hagen with Realty Connect USA with an important message for home buyers. Did you or someone you know recently lose out on a home due to a bidding war? Today, with all that’s going on, more contracts than ever are being canceled for a myriad of reasons. What should you do? Call your agent to check whether the property you bid on is experiencing difficulty. If you don’t have an agent, you could call or text me at 516-429-9399. The first clue there could be a difficulty with the transaction is to see how long the property you coveted has been under contract. If it is under contract for more than 90 days, there could be an issue. If the transaction was canceled due to the buyer no longer qualifying for the mortgage, the seller may still be eager to sell. It doesn’t cost anything to make the inquiry. Good luck to you when your home search resumes and until then, stay safe.