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At any rate, you like the house and you can afford it and in this crazy housing market, you are lucky to get a house you like that you can afford. I'm happy for you.
Not anguishing. More like feeling like we could have saved ourselves $100,000 had we tried offering lower. Not exactly chump change
Woulda, coulda, shoulda. Live in your house like you don't know what the cost was and just enjoy it. You'll only make a 'bad' (in your eyes) situation worse by perseverating on the deal. If you can't change the outcome, move on, the only value to be had is to learn from the situation.
The irony of course is that for every person like you, there are several more thinking "dang, had I not been penny rich pound foolish, I could be living in the house I really wanted".
And if you'd offered $1.6M and they accepted a different offer you'd be lamenting about another house you were outbid on.
You liked the house enough to offer more than ask, be happy with your new home and let go of what you think "might have" worked. Your crystal ball doesn't work better than anyone else's.
Well we will see how inspection goes and then appraisal. I totally regret waiving appraisal. It was sprung on us unexpectedly. And we were told this is normal. I wouldn't agree to that again should this place fall through. I'm happy with the house but can't help but think we could have saved ourselves money by at least trying to offer lower.
And proof how duel agency is garbage. Too much incentive for a realtor to drive away a good buyer in favor of one of his own buyers. Lots of good lessons learned here. thank you for those who listened and gave decent feedback. The house hunting cumulative stress is very real
I'm a Realtor in SoCal, and there have been WAY too many problems with demands to waive appraisal. It used to be in the purchase contract, that if the home doesn't appraise, then you still have the loan contingency to give you an out. Well, they changed the purchase agreement over the years, and now you cannot use the appraisal to get out of a loan and thus out of the contract.
As far as dual agency, that's a sticky slope. Yes, it's legal in CA. I started keeping track of all the homes that my buyers have been interested in/made an offer on and got rejected. Many times, the agent double ended the deal, which gets my blood boiling. I could never do that, as too many lawsuits are derived from double ending deals. It's a shame they don't do something where a third party goes over the offers with the seller, without revealing which agents made the offers. I'd bet there would be different outcomes on those offers.
My hope for you is that if anything comes up in the inspection period, that is your chance to back out of the deal without forfeiting your earnest money. And it doesn't have to be something that comes out of the actual physical home inspection; perhaps after doing more research, you felt you didn't like the way the yard is sloping and it's too costly to fix, or you realize you aren't happy with one of the seller's disclosures that they reveal to you.
FLSKater thanks for that info. I am still so surprised that on a state that regulates every single thing they can allow duel agency. It's been illegal everywhere else I've lived. It makes it even harder for average people to buy a house. Not only are there more buyers per house but now the seller's agent has far more incentive to see one of his/hers own buyer's get the place.
But anyway thank you all for the advice. We both feel so much better about the deal. Sure we could have played more hardball but then we could have lost the house. So we are over that feeling. Getting a good house and good deal on a house in this area is almost impossible. I kept asking for so long ”Why is that house still sitting?”. When it was listed it was way over our budget. But then we caved and raised the budget. But still makes me wonder if it was the agent driving potential buyers away.
Also, I realize I sound like a braggy jerk. I've been living in CA too long, lol. I should have clarified that this house is in LA county and at 1.7M it's a 2000 square foot house that's stuck in the 80s. I was thinking that 100k we went above could have been reno money that we won't have now. It hit me that it sounds like I'm whining over paying too much more my mansion. In this area of western LA county, under 2M is not that big a deal. So this was more of an average house that had been sitting that typically would snatched up in this market. That's why it was so suspicious. I should have led with the size of the house!
Thanks again all!
FLSKater thanks for that info. I am still so surprised that on a state that regulates every single thing they can allow duel agency. It's been illegal everywhere else I've lived. It makes it even harder for average people to buy a house. Not only are there more buyers per house but now the seller's agent has far more incentive to see one of his/hers own buyer's get the place.
But anyway thank you all for the advice. We both feel so much better about the deal. Sure we could have played more hardball but then we could have lost the house. So we are over that feeling. Getting a good house and good deal on a house in this area is almost impossible. I kept asking for so long ”Why is that house still sitting?”. When it was listed it was way over our budget. But then we caved and raised the budget. But still makes me wonder if it was the agent driving potential buyers away.
Also, I realize I sound like a braggy jerk. I've been living in CA too long, lol. I should have clarified that this house is in LA county and at 1.7M it's a 2000 square foot house that's stuck in the 80s. I was thinking that 100k we went above could have been reno money that we won't have now. It hit me that it sounds like I'm whining over paying too much more my mansion. In this area of western LA county, under 2M is not that big a deal. So this was more of an average house that had been sitting that typically would snatched up in this market. That's why it was so suspicious. I should have led with the size of the house!
And inspection went great. The guy was done in 90 minutes which surprised us too. In the past inspection was 3 hours in other places we lived. So either he did a rush job or the house is in great condition. He said it looks great so I guess we'll just go with that.
Thanks again all!
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More like feeling like we could have saved ourselves $100,000 had we tried offering lower. Not exactly chump change
