Runner-Up Buyers
“Once bitten, twice shy” may be true in romance, but it definitely does not apply in residential real estate.
At least, that seems to be the case in housing markets with scarce inventory and rising prices — true in many parts of the country now, including the Twin Cities.
More Aggressive
On the contrary, would-be Buyers who just lost out in multiples typically go after property #2 — once they finally find it — with more, um . . . ardor conviction.**
Which is why such Buyers are catnip for Sellers about to put something similar on the market . . .
**Assuming they can afford it.
See also, “Prospective Home Buyer: the House I Want is in Multiples; What Should I Offer?”
