Making Deals Successful

[Jason Givens]

Hey BiggerPockets!

I've been enjoying my time here for the past couple of months.  I actually started down the path of looking into investing in 2-4 unit properties here on the Northside of Chicago.  I ended up settling on condos as it is low barrier for entry, a smaller pool of competition, and the buy in is much less cost prohibitive.  I got a very reliable lender and that process has been smooth.

I've run into a bit of a snag.  I've put in multiple offers on properties that turned out to be great deals.  Thanks to the rental calculators here on BiggerPockets for helping me get accurate analysis.  The listing agent(s) decided to play hardball each time and lost out on my deal before accepting the offer.  The listing agent(s) (multiple ones) eventually came back trying to pick up the previous deal which I declined.  This turned into a bit of a trend here lately and I'm guessing this is just how Real Estate goes?

After burning through dozens more properties I was able to get my offers accepted.  Each time an offer was accepted, it was subsequently pulled during the attorney review process for whatever made up reason they could come up with. The seller/attorney obviously can't tell me they've gotten a better deal.  This is what I think has happened in the background.

My question BiggerPockets, is there a way to ensure a deal gets to close after your offer gets accepted?  A way to tighten the ship once you get an offer signed.  I could have been out of hundreds/thousands of dollars on inspections and appraisals had the seller decided to sit on their feelings much longer.

I decided to wait until the Spring of next year to actively start searching again.  I think trying to find a renter to take over my current apartment for a December move-in date will be impossible.  It is truly unfortunate to get so far along in the process only to lose the deal multiple times.