It's a horrible feeling. You saw the one, pictured yourself living there, and then it sold to someone else. It happens to almost every buyer at some point, and it doesn't mean you did anything wrong.
Give yourself a moment
It's fine to be disappointed. A home search is an emotional thing. Once the sting fades, it helps to ask a practical question: what can I take from this?
Work out why it went
- Was it the price? Another buyer may have simply offered more.
- Was it the conditions? Offers that need more time for finance or reports can lose out.
- Was it the timing? Homes that suit lots of people can sell quickly.
- Was it the settlement date or another detail that mattered to the seller?
Your agent can often tell you what made the successful offer stand out. Don't be shy about asking for that feedback. It's useful information, and it costs nothing.
Get ready to move faster next time
- Have your finance sorted, so you know what you can borrow and can move quickly
- Have a lawyer lined up, ready to review an agreement
- Know your must-haves and your top budget before you go to a viewing
- Do your homework early, such as ordering a LIM, so you're not starting from scratch
Don't settle just to win
After missing out, it's tempting to say yes to the next thing. Try not to. A home that ticks your must-haves is worth waiting for, and the right one usually comes along.
Quick tip
Tell me what you're looking for through the Buyers Loop. I'll keep an eye out and let you know when something suitable comes up, including properties that may be available before they're widely advertised.
This is general information only, not legal, financial or building advice. Rules and market conditions change, so check the details with your lawyer, lender or the relevant authority before making decisions.
