Housing dilemma

We have been shopping for apartments recently and came across a place we thought was perfect for us. We had done a lot of shopping and knew when we saw this place it was what we wanted. The only problem was the renter had set up a system where potential tenants give them $300 as an "earnest" payment. Essentially what this means is that your place in line is saved. The first person to pay the earnest has 72hrs from the time they pay it to say they don't want the place. If they don't want it the next in line gets the opportunity, and so forth. We were second in line. First in line was an extremely young couple (according to the renters) who definitely didn't need a spare room and probably didn't understand that this place should be out of their price range. Needless to say, the renters preferred us over them, but unfortunately had already made the "earnest" deal with the other couple. They also thought this other couple wouldn't actually come through and take the place.

We couldn't help but think of all the reasons we should get the place over the other couple. As we waited the 72hrs we tried to come up with all sorts of creative ways the renters could get around the promise they had made. It seemed to be in everyone's best interest to tell the first couple no and tell us yes, and don't they have the right to rent to whoever they want to rent to?

The couple did end up taking the place, the renters felt bad dragging us along all week, and we had to start over on our housing search. I'm sure everything will work out fine with those renters, but it sure seemed like there could have been a different result. Utilitarianism would have benefited us with the apartment, I'm sure.

We ended up signing on a new place the very next day. It is much nicer and cheaper, and is furnished as well. We feel like we ended up with a much better deal over all.

The situation with this apartment was similar to the first, were the renter had already had a few people see the place and like it. They had told us and two couples before us that whoever could get back with a deposit would be able to rent the apartment. This seemed a little better than the "earnest" situation, but because we only wanted to stay until April, it still caused some drama.

We had told the lady we would go right home and get the deposit immediately. As we drove, the renter called the other couples and told them we were going to take the apartment. She said she offered it to one of the other couples since they had been there first, and were wanting a place for a year, but they said they would keep looking. They said they almost called us and told us they didn't want to just rent it for one semester, but decided at the last minute to let us. I felt like she had given us her word, but we still were nervous for the whole ride home and back that she would call.

Now we have signed a contract, so I don't think they can back out if they wanted to. I think we ended up with the best situation overall.