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When you are outbid on a home
I offered the asking price for a home that I believe to be up there with my dream home territory. I went straight in with the asking price as I didn't wish to play games or be an a-hole.
Last week I had a short 'bidding war' when someone else attempted to outbid me twice, and then I won that with what was my final bid. I didn't have the means to go any higher. I was the first person to offer and was hoping that offering the asking price to be respectful to the seller would be in my favour.
Today someone else viewed the property and has outbid me yet again. Only this time, I'm no longer in a position to play the game. I have a financial ceiling at the moment that limits me from going higher, otherwise, I would.
As a first-time buyer, this is my first time engaging in and experiencing this kind of thing. My initial reaction to being outbid is one of disappointment mixed with disgust. I feel like it's a distasteful thing to do, "outbidding" someone like this. They don't care that that person may have their heart set on that home - which I have/had - and then someone comes along and decides they going to steal their joy from them.
What I'm really saying is, regardless if the other person simply wanted it the same way as I did and decided to take the opportunity to themselves, I personally would feel discomfort knowing that I did this to someone else and I just hope that I can keep my moral compass intact throughout this process (i.e. not be responsible for causing similar hurt to another individual).
I might get told that it's just the nature of this business and that it's nothing personal, etc., but that will not change the way I feel about it - to come along and steal a home purchase from someone, well, I think that's a bit of scummy thing to do and as it stands I can sleep easy at night knowing I have not done this to someone.
How do people deal with this kind of loss?
And yes, I know I can't have lost what I didn't have, but I did lose out on an opportunity to seal the deal on a home I truly desired, and it stings.
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