What To Do If You Lose That Nashville Dream Home

Dated: 05/14/2018

Views: 521

by TJ Anderson

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I can’t lie — right now, I’m deep in the throes of disappointment. It was another great Preds season, but Thursday night at Bridgestone Arena, I had to plod slowly but assuredly through four of the five stages of grief as our playoff run came to an end. Three days later, I’m determinedly working my way toward acceptance.

Usually I’m pretty good at processing this kind of stuff — through all my years working in Nashville real estate, I’ve picked up some worthwhile coping mechanisms, most of them in an effort to help clients deal with the bummer of missing out on a home they really wanted.

For us, it’s the exception more than the rule, but in a busy real estate market like Nashville, it’s bound to happen from time to time.

I don’t mean to pat myself too hard on the back, but I’ve put in real work to become adept at getting offers to move through — for my own Nashville home, I managed to beat out more than a dozen other home buyers, an accomplishment I’ll gladly wear like a personal and professional badge of honor. I work just as hard to get my clients the home they want.

That said, the process of selling and buying a home in Nashville has a lot of moving pieces, and no Realtor can bat a thousand — sometimes, things happen that we just can’t negotiate around. It’s part of the process, and although we all know that, it doesn’t make it any less of a drag if it happens to you with a home you really, really wanted to make yours.

Whether you’re dealing with that frustration right now, or you’re about to jump into the process of buying a home in Nashville, here’s some stuff to keep in mind that I find makes the homebuying process, and potential disappointment, easier to move through.

Prepare beforehand to hope, but not expect

This is more true if your budget is in the more competitive range (in Nashville right now, homes around $300K and lower): Losing a bid or three is likely. If you accept that it’s part of the process, I find that the sting lessens a little if and when it happens. Sometimes it’s a cash buyer willing to overpay, sometimes it’s a no-contingencies offer you just can’t logically or practically match. Try to just mentally mix it into your steps toward homeownership: You’ll tour a bunch of homes, love a few, hate a few, lose a few, maybe even inspect a few… and then things will work out, and you’ll hold your new key in your hands.

Know that no home is perfect

Obvious, I know, but when you’re househunting and a home really grabs your heartstrings, it’s easy to forget. There are always compromises, even if the ones that come with the home you’re coveting aren’t immediately obvious. You can’t know all the downsides that come with that dream home (and all homes have downsides) until you’ve lived there a bit. So let yourself absorb the fact that you might’ve missed out on some details you love, and you almost certainly dodged a few frustrations too. That’s homeownership. So let’s move forward and try and find another home with as many upsides as possible.

Remember that you never know what tomorrow (and the Middle Tennessee MLS) will bring

I spend a chunk of my day every day sifting through the Nashville MLS, talking to other agents and keeping tabs on the real estate market here. We have our struggles with inventory, but in most budget ranges, there are still a ton of options popping up every single day. So don’t get discouraged. A dream home that has even more of what you want and need might hit the listings tomorrow, or I might get a line on something perfect from another agent I know. The right home for you is out there, and even if the road to it is a little winding, we’ll get there.

Give it your best, and accept the results

If you really feel like this home is the one, we can put our heads together and come up with your best and highest offer, and make the deal as sweet as we possibly can. If it doesn’t come through, internalize an important (and I find helpful) truth: This one wasn’t the right fit for you. A home has to work for you on every level — it needs to suit your needs, your taste, your timing and your budget. The last two are genuinely just as important as the first two, even if the first two tend to be a little more fun.

Thinking about buying a home in or near Nashville? I’d love to help you through the process — and do everything possible to make sure you don’t need the above advice. Check out some Nashville homes on the market here, and call or email TJ Anderson Homes to tell us more about what you’re looking for.

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TJ Anderson

TJ Anderson is a Nashville Realtor with Benchmark Realty who's helped countless clients both buy a home and sell a home in Nashville, Tennessee. He blogs about Nashville regularly, from Nashville-area....

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