Even though how exciting and rewarding home ownership is, you may still experience disappointing times like your offer being rejected even if you have what it takes to buy a property. While anyone can fall in love with a house, your offer can be rejected and this situation can happen anytime so it is strongly recommended that you have other options and that you shouldn’t be emotionally attached with a property until you have started the home buying process.
What’s more frustrating is that the seller or the listing agent may not tell the main reason why your offer was rejected so you are left guessing what actually went wrong with the initial negotiation.
The homeowner may call for specific terms and conditions before the home buying process happens like the moving date or vacancy period. If the potential buyer and the seller couldn’t be amenable to some terms, the seller might reject the offer and consider another offer from a different potential buyer of his/her property.
A very low offer can send a signal to the seller that you are not really serious in buying the property. Although the words “very low” can vary depending on the person, the real estate market defines “low” as “ridiculously” low as in a ‘low ball offer’. You’ll know you have crossed the line of what’s low when the seller did not make any counter offer and what’s next is basically to find another property.
Are you thinking of buying a home? So avoid being emotionally attached to a property you just fell in love at first right. To avoid being brokenhearted know the terms and conditions of the seller. Remember that offering too low is not the best way to get the best deal in the real estate market. Although you have the power to choose the type of home that you want to buy, the last words still depend on the seller.
To avoid a rejected offer, it is best to as the seller’s agent regarding the terms and conditions of the seller. You don’t need to compromise but you just have to know what the seller needs in order to avoid being rejected.