How Many Sacramento Purchase Offers Does it Take Before an Offer Sticks?

Buyers who write purchase offers on homes they intend to buy generally close.

Even though I have been in the real estate business for 40 years, it still amazes me how buyers can be so sure one minute and so completely nuts the next. I’m wondering if there isn’t some sort of sign that buyer’s agents are overlooking, or if the agents are so completely focused on getting the paperwork signed that they forget to have a chat with the buyer. You know, something along the lines of: When you sign this contract, you have committed to buy a home, just in case they thought they were signing up for membership in Sam’s Club instead.

We have all become distracted by technology and the whirling world around us. Hey, anybody could have a temporary lapse, I suppose.

I just don’t understand how a buyer can be jumping up and down with such enthusiasm over buying a home, and not quite 2 minutes later falling into cold feet syndrome with severe regrets. Just a few days ago, an agent called to say his buyer was dedicated to purchasing a home in Sacramento. The guy was absolutely in love with this home, and his entire family was behind him. They were so obsessed with buying this home that they pulled out a wad of cash, $3,000 in all, and gave it to the buyer’s agent, begging him to obtain a cashier’s check with it on their behalf and draw a purchase offer.

Two other buyers wanted the same home in Sacramento. This was really good for my seller. She was excited and relieved to hear the news. We received two offers and waited for the purchase offer from the buyer with the $3,000 cashier’s check, too. Waiting, waiting, waiting. Then the agent called to say the buyer had a change of heart and was no longer interested in buying the home.

Doesn’t matter because we have 2 other purchase offers. It was tough initially choosing between them. They were very close to each other in terms of price, down payment and terms. The seller did an eeny, meeny, miny, moe and picked one. Signed the purchase offer. We sent it to the agent and 30 minutes later escrow shot over title information to the buyer’s agent. That’s when the agent emailed to say that after he explained the process, oh, so sorry, his buyer has flipped his gourd and will no longer be buying the home.

All this in one day. Sure hope the third time’s a charm.