I want to introduce you to one of our fantastic associate agents who is going to join me in creating some great, informative real estate content for you. Dimitra Miras is here today to talk about some potential reasons why your offer may be rejected by a home seller:
1. Your heartfelt letter to the seller was off-putting. Maybe you revealed too much or insulted the seller. If you’re going to write a letter like this, make sure that it’s written in a clear and concise manner. Grammar matters too!
2. A higher offer is not always better. Since lenders will only loan a buyer as much as a home is appraised for, make sure that you’re willing to come up with the difference out of your own pocket if the home doesn’t appraise to where you made your offer.
3. Your lender was unfamiliar to the sellers. Often, a real estate agent or seller feels more comfortable with a local lender they know. Do your research, but consider giving preference to a well-regarded local mortgage lender or a major bank.
4. You demanded a family heirloom. If there is an item in the house that you would absolutely love to have, make sure you include it in the deal. However, if it’s something that the seller won’t part ways with, don’t make a fuss about it. Don’t lose the entire house over a pretty chandelier.
5. Don’t scrooge sellers out of money. While sellers love to see full-priced offers, don’t try to cheat them out of money elsewhere. They’ll see right through it and be put off by it.
6. Your financial picture is important. If you don’t look like a solid buyer, a seller will steer clear. They want a good buyer so they won’t be sent back to the drawing board at the last minute.
If you have any questions about buying or selling a home at any point in the near future, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.