Ugh. Saw what seemed to be a dandy site the other day, and lost it.
While I was investigating it, another person swooped in a picked it up.
Being vague right now on the source, etc., as I may still be able to pull something out of the fire. However, one potential lesson... and one question.
Lesson: What I maybe should have tried, since everything looked really good and I was aware to get it off the market before someone else grabbed it, is kind of a real estate tactic I read about. Decide on a fair offer, and put it in Escrow based on conditions (confirming traffic / revenues, etc.) as well as the condition that you are the first bid in line, regardless who else comes to the table (tough to police I know, but there are good people out there ).
The goal is to get the seller to know your serious (money on the table) and effectively take it off the market while you review it. Don't know whether it'd work... came to mind after the fact.
Question: Any suggestions on how you would / have gone about this. Man, you find a good deal and you want to protect it while doing the due diligence. How do others tackle that?
Thanks in advance!
(P.S. I really wanted that site !)