As Windsor Realtors, it is often our job to find out why your offer was rejected. Of course, when this happens buyers are disappointed, angry and usually heartbroken. It’s never an easy discussion when sellers turn down an offer. But here are some of the more common reasons why offers are not considered.
1. Sellers Are Insulted. This is usually the number one reason, especially in a buyer’s market where many buyers assume they can get bargain basement prices for a home. If you bid too low, there is a very good chance the seller will regard you as not a serious buyer.
2. House Recently On Market: There are times where a seller will reject a low offer when the house was just placed on the market. They will prefer to see if they can get a better deal in the coming weeks.
3. Buyer Will Not Meet Seller’s Requests: Some buyers may prefer not to have a longer escrow, however, this may be a sticking point for sellers. Sometimes a buyer needs to get in a house right away, but a seller wants to wait until school is out. These circumstances can happen and in that case, sellers prefer to move on and see if they can get a more acceptable bid.
4. Get Pre-Approved. This is usually a no brainer. Windsor Realtors strongly suggest this. Sellers like to see a pre-approval letter, and if your offer is one of many, then most likely, they will go with a buyer who is already pre-approved for a mortgage.
5. Costly Repairs: If you want the sellers to make costly repairs before you move in, they can reserve the right to say no. If you want the home bad enough, then you can offer to waive the repairs and purchase “as is” once you have a home inspection.
A seller is not required to give you a reason why your offer is rejected. But normally, your Windsor Realtors will have some ideas. By presenting a fair and responsible bid, you are doing all that you can to make sure your offer is accepted.
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