When you have finally found the home of your dreams, it can feel devastating to have your offer rejected. The first thing to remember is that there is no reason to take this personally – and there is no reason to give up. There are many situations in which a seller might reject an offer rather than counter but still be open to negotiating.
Keep reading to learn four reasons they might reject your offer and then contact Berkshire Hathaway HomeServices at (310) 373-0021 to find a buyer’s agent that can help you find – and win – the home of your dreams.
1. The Offer Was Too Low
This is the most common reason for a seller to reject an offer. Usually, they would come back with a counteroffer, and you could negotiate. However, if you have come in significantly below asking, or they are counting on getting the full asking price, then they might just reject it outright. This would be a situation to reevaluate what you are willing to spend and make a higher offer if you really want the home.
2. You Included Too Many Contingencies
The more contingencies you included, the more work the seller will be required to do. If your offer is contingent on them making repairs, then the seller will have more work to do and will have to spend money. They might not want to do so. If your offer is contingent on selling your own home, then they might not want to wait. Consider if there are any options to remove those contingencies.
3. You Are Not Able to Close Fast Enough
No one wants to move with little notice, but if you are trying to hold up the closing for several months, do not be surprised if the seller rejects your offer. If they want to move quickly, they might be willing to accept less money with a faster closing.
4. They Received a Better Offer
This does not always mean that they received an offer for more money – though it does often mean that. It could mean that someone was willing to buy with all cash and a 30-day closing. If they received a better offer, you might be able to meet it – but it is time to perhaps consider that this is not the house for you.
You Need the Right Person Negotiating for You
Sometimes a rejection does mean you are not going to get the home but in other cases, it just means that you need more information to know what would make for a compelling offer. Your agent should handle that for you. If you are ready to get started and determine what your best options are, contact Berkshire Hathaway HomeServices at (310) 373-0021.