Monsey bidding wars -- need chizuk please

amother

Wed, May 15 2024, 11:26 pm

I know it's all from Hashem, and that it will happen at the right time, but right now I feel discouraged.

Our Brooklyn house is finally under contract, and I thought that should make us competitive enough for offering on houses in the Rockland county area (New City, Pomona, suffern etc). We are older and B"H our mortgage is paid off. So we are relying on the proceeds that we will receive from the sale of our house in order to buy the next one.

But even though we don't need financing, every single time our agent places an offer on a house we like, it gets rejected due to having the sale contingent on the sale of our house. We offer well above the asking price, and yet time after time we are told that the seller chose a different offer that didn't have a contingency. Our RE agent is solid and very experienced. She does everything very professionally, and yet our offers are not accepted.

This means that we have to close on our Brooklyn house first, put all of our stuff in storage and move out so that we are truly cash buyers. B"H we have where to go, but I was really hoping not to get to this point.

The market is so crazy right now, and the inventory is so low, that I'm a bit nervous that I'm selling my house before I found another one. For every house in the monsey area that's half broken, there is a bidding war with multiple offers. Many of them are well above asking price. This pushes the prices further higher and higher. We are on a budget, and already had to go into savings to offer quite a bit above what we got on the sale of our house, and it is still not enough. I'm davening to Hashem to help us find our next house, and that it should go smoothly, and that at the right time, our offer on the right house would be accepted. Thank you for listening. This is very stressful for me. Supportive comments only please.

Thank you 🙏

amother

Thu, May 16 2024, 1:42 am

amother Almond wrote:

Can you arrange to rent your current house from your buyer for 6 months or so after you sell?
So that at least you have a cushion of a few months in which to buy in cash?
Good luck

Thanks for that. We requested a post closing possession from our buyer, but they are unable to accommodate for more than a few days. We plan to go upstate instead, but it will be challenging to work our respective jobs while there.