OOPS!

I found a HUD f/c in my area yesterday that went into the "All Bidders" category. somehow, I just totally overlooked the property in my initial research last week. It turns out the property was listed back in May, and whoever won the bidding there, decided not to follow through with the purchase. That's how it came back on their site. It was listed yesterday for $106,000, and had only one (failed) bid on it for $83,000 this time. I quickly ran some numbers, and figured the property was worth around $123-125k. So I immediately emailed my agent to make an offer for $90,000, and kept cursing at myself for not bidding on this property a day earlier. This morning, I get an email from my agent saying I won the bid. Whoo-hoo! But not so fast. I double-check with my HUD processor's web site, and find that someone else actually won. Huh?!?! So, I call my agent, and she's all excited. I tell her the processor's web site shows that someone else won, and she says she'll double-check. Sure enough, she read the confirmation email wrong and said I did, in fact, lose the bid. It turns out two other people bid higher than me. :-(

What makes me mad is that this is my fault. I totally overlooked the property over the weekend, and I could have bid $90k YESTERDAY and WON. Instead, I lost. I've now bid on 5 properties with this agent (6, if you count the two bids on the same property two weeks ago). When I was making offers last year with my previous agent, I went through something like 16 offers before getting one accepted, so I'm not feeling too bad.

Onward and forward.