Buying A Home
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Rant - First time buyer not getting anywhere
I need to rant, and find out how others have faired.
DH and I are first time buyers and know what we can afford. We've saved up a decent down payment, talked to several lenders, and even done a first time buyers class. Our budget is small for this area, so the number of available homes is very limited, meaning that although we've looked at several homes, and put in four offers, none of them have been accepted. Our agent always tries to find out why we didn't get it, and so far we've been beat out by cash offers (freaking investors!) and people who forgo the inspection/appraisal (who does that?!?!). We know we will have to make some compromises, and are even willing to get a fixer-upper, but our city is in no way first time buyer friendly, and I'm starting to think we'll never find anything. We don't want to rent anymore, but can't afford to up our budget right now. Competing with everybody else who wants to live here/make a profit from flipping is getting really frustrating!
Anybody else experiencing this? How many offers did you have to put in before yours was accepted?