Newsflash: [First Time Home Buyers] Feeling very dejected

We started the house hunt about a month ago in the North Raleigh area of NC. We’d been told it was a sellers market, but had no idea how bad it was. The first house we loved we put an offer on that day. We went $5,000 over asking price with $750 DD and we lost out. Thinking back on it the DD was pretty low so that is probably why we got passed over. I wasn’t too upset because while a lot of the house was re-done, it had a mild cigarette smell and the guest rooms were very small (The third bedroom was 9×9!).The second house we put an offer on we were in love with. It checked everything off our list, and was relatively new compared to all the others we had seen. It had fiber cement siding instead of masonite like all the others we had seen. It had a large fenced in yard which was must-have. The kitchen was recently redone with granite counter tops. We were the first ones to see the house and immediately put an offer in. We knew we would have to fight for it. So we started out going $7,000 over asking price with $1,000 DD.This is where things get interesting. We didn’t hear back at all that day (This was a Thursday), so our realtor called to get the scoop. Turns out the realtor was the seller’s dad and they were waiting for the seller to get back from a business trip before they decided, but said they loved our letter because it mentioned my fiance being a teacher, same as the seller’s wife. Our realtor asked about what they were looking for as far as closing date, because we rent month to month now and are super flexible. We both agreed on a date and they said we would know Saturday.Saturday night rolls around and still nothing. Our realtor gets an email at 8pm asking if that was our best and final offer. So we knew we had to go higher. We bumped the offer up to $10,000 over asking with $1,250 DD and our realtor mentioned again how much we loved the house and it was a perfect fit for us. Didn’t hear anything for over an hour, then our realtor calls saying they told her that the sellers need to go to church in the morning and pray about it. So we sit around all day Sunday. Finally around 3pm on Sunday we get a call only to find out they took a better offer.It was a four day emotional roller coaster, and I honestly felt like we had a good chance of getting the house. We are both feeling really dejected and feeling like we might not find the house we want anytime soon unless we end up going $12k+ over. Our friends mentioned going up on the DD is a must, and that might be why we lost out on this one. I guess I just wanted to vent, but also get advise from anyone who gone through anything like that in their house hunting and if there is anything we can do better.

Read more at https://www.reddit.com/r/RealEstate/comments/6cp8ro/first_time_home_buyers_feeling_very_dejected/?utm_source=ifttt

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