Beganski’s Law of Buying Real Estate
November 10th, 2008 categories: Central Connecticut News & Information, Home Buyers, Real Estate Market
Beganski’s Law of Buying Real Estate in any market is:
“If you are about to write up an offer to buy a house, another buyer has just submitted an offer or is currently writing one.”
Although more common in a seller’s market, Beganski’s Law of Buying Real Estate also occurs in a buyer’s market. In a buyer’s market, the effect is more significant, causing buyers to wonder if the other offer even exists. In a seller’s market, buyers must assume there are other buyers about to put in offers.
Not only have I witnessed this happening to my clients, it happened to me this weekend which is why I finally named it.
I went to see a house I’ve noticed in the MLS for 3-4 months but never had a chance to go see it in person. I liked it enough to talk to the listing agent who told me an offer was just negotiated and accepted.
Of course there was. Moving on…
Beganski’s Law of Buying Real Estate strikes again.Don’t lull yourself into thinking that in this market, you will be the only buyer interested in a particular property. In other words, DON’T be like me.
