Green Valley Homes | Search Green Valley AZ Real Estate and Homes for Sale | Russ Fortuno, Tierra Antigua Realty
Register Login (520) 333-0446
  • Bloglovin
  • Email
  • Facebook
  • LinkedIn
  • Home
  • Green Valley Homes
    • Green Valley
    • Quail Creek
    • Sahuarita
    • Tubac
  • Quail Creek Homes
  • Area Information
    • Dining Out
    • Golf
    • Green Valley Recreation
    • Mover’s Guide
    • Visitor’s Information
  • Buyers
  • Sellers
  • About
  • Blog
You are here: Home / Blog / Tips for Home Buyers

Lose a bidding war? Be on the lookout for a 2nd chance

July 13, 2022

Many headlines would have you believe that bidding wars and houses selling for over the asking price are a thing of the distant past. But it was only a few weeks ago that buyers wouldn’t have dreamed of finding a house where that wasn’t the situation.

There have certainly been signs of the market softening a bit in favor of buyers, but bidding wars are still a thing, as well as houses fetching offers over asking price — even if it isn’t happening on every listing.

So if you’re a buyer right now, there’s still a good chance you’ve “lost” a house to another buyer within the past few weeks, and you’re still feeling the sting that comes with it. You may be wondering when (or if) the market will truly give you a fair shake at getting a house…

Well, don’t lose hope! In fact, you may even get a second chance at a house you lost to another buyer.

According to a recent report by Axios, nearly 15 percent of pending home sales failed to close in June. Whether it was due to buyers not getting their mortgage, home inspection issues, the house not appraising for the sales price, etc., many sellers found themselves looking for a new buyer or going back to the buyers whose offers weren’t originally accepted.

So if you lost out on a house recently, there’s a chance you may get a second bite at the apple!

If and when that happens for you, here are a few things to keep in mind:

  • Don’t let your feelings get in the way of an opportunity. It hurts when a seller chooses another offer, and some buyers take it personally. Don’t hold a grudge and say you’re no longer interested for the sake of getting back at them for not choosing you originally.
  • You may be able to negotiate a lower price than you originally offered, but don’t bank on it. There’s still a low amount of inventory, and a lot of competition, so sellers aren’t entirely desperate. If you try to lower your offer, the seller may take offense and either go with another back-up offer, or just put it back on the market.
  • Don’t be too concerned with why the original buyer backed out of the deal; you may or may not get the true reason why the contract was canceled. Sure, it could’ve been due to home inspection issues, but maybe the other buyer made a big deal out of a little issue just because they had buyer’s remorse. Or maybe the buyer simply couldn’t get their mortgage because the rate changed and they could no longer qualify for the loan they needed. Just because another buyer had issues, doesn’t mean they were legitimate or will affect you, or that there’s something wrong with the house.
Bottom Line

There are signs and headlines that the market is shifting in favor of buyers, but they’re a bit misleading. Houses that are desirable and priced appropriately in the market are still selling fast, with multiple offers, and often over asking price. So if you’re in the market to buy a home, you still need to be aggressive and make a strong offer.

However, if your initial offer isn’t accepted, don’t lose hope! With 15 percent of home sales falling through in June, there’s a chance you may find that the buyer they chose backs out and the seller checks to see if you’re still interested.

If that happens, be careful about lowering your offer, and don’t dismiss your second chance due to emotions or concerns about what was “wrong” with the house.

Filed Under: Tips for Home Buyers Tagged With: Bidding Wars, Multiple Offers

New Listing

NOTIFICATIONS

  • Email Alerts for New Listings
  • Save Your Favorites
  • Schedule Showing Requests
  • Price Change Notifications
  • Plus More…

Sign Up

What’s Your

HOME WORTH?

Find Out

Client

TESTIMONIALS

"Couldn’t have asked for a better Realtor!! Russ was very friendly and professional, very knowledgeable, great at negotiating and had a great strategy for everything. He kept us up to date and did all the heavy lifting for us. He took the time to find houses that matched our needs, took care of setting up our inspections and handled any issues that came up during the process. Russ made the house buying process smooth and stress free. Really can’t say enough good things about Russ. We had zero complaints. We definitely recommend using Russ as your Realtor. "
- J.M., Tucson AZ
"I have used Russ to purchase and sell about 6 houses. He does a great job. He is very professional and keeps on top of all the details. He has always done a GREAT JOB for me."
- A.T., Green Valley AZ
"We were out-of-town buyers and bought our condo sight unseen. First time ever we did this but Russ helped us every step of the way. He sent us videos of the condo, showed the condo to our friend who lives in Green Valley, set up home inspections, and explained differences in Arizona real estate laws/processes to us clearly. He also sent us a timeline on when specific tasks needed to be completed, and he was always available to discuss questions or concerns. We never felt pressured – only felt that we were working with a professional who was looking out for our best interests. We would use him again in a heart beat!"
- J.S., Green Valley, AZ
View All

Listing Notifications

Sign Up! New listings delivered to your inbox!
Sign Up Now

Stay Connected

  • Bloglovin
  • Email
  • Facebook
  • LinkedIn
  • Phone

agent photo

Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

© 2025 Russell E Fortuno PLLC, All Rights Reserved. ADRE BR658088000   •   Privacy