Prior to making an offer, it's important to be sure that you have enough information to make an informed decision on one of the biggest purchases you will make in your lifetime.  That's where I come in.  I am happy to provide you with any and all resources that I have at my disposal.  I will research and discuss with you comparable homes in the area and provide you with a detailed analysis to include trends in sales, length of time on the market, and other data that may be helpful.  Armed with this information, you will be able to make a competitive offer and be prepared to negotiate any counteroffer that may arise.

Suppose Your Offer Is Rejected:  

It’s the kind of disappointment no home buyer wants to think about: After months of searching for the right home, preparing paperwork and getting everything "just right," your offer to purchase your dream home is rejected. And, you might not even know why. Although this is one of the biggest challenges you may encounter during your home search, it doesn’t necessarily mean the story is over. Yes, you should temper your expectations, but there is still a chance you can move forward and close the deal after all.

Why Are Offers Rejected?

• The Price is Wrong:  In most states, sellers are not required to respond to offers that are less than list price. That means it could take days or even weeks to realize your offer is not even being considered. Sellers can get overconfident about their ability to move a house at a given price, and might have unrealistic expectations. The longer a house is on the market, the easier it is to make a lower offer.

• Too Much Interest:  Speaking of that bidding war—there’s always the possibility that multiple people will get equally serious about a property at the same time. This leads to a standoff that can be catastrophic for the finances of the winner. Buyers can play coy to get multiple bidders to fight it out. Don’t let the “sunk cost” fallacy take hold: If the price is unrealistic, be prepared to walk away.

• Buyer Not the Right Match for Seller:  Even if the price is right, you still might run into issues with a seller who has specific needs:

• The seller may need a long escrow and be looking for a longer close date.

• The seller may be expecting more earnest money, requiring a larger deposit.

• The financing terms in the MLS may not have been met by the offer made.

• There may be concerns about repairs that can be alleviated by buying “as-is”.

What Can You Do Now?

Having an offer rejected when buying a house is never pleasant. In extreme cases, it can mean that the seller is entertaining another offer and the house is de facto off the market. Most of the time, however, there’s still an opportunity to get the property you want if you take action quickly.

How can you know what to do next? The answer is simple: You have to ask.

Opening the lines of communication with the seller will help you determine whether you can really salvage the situation or not. If you can, a frank discussion will give you insight on the steps you can take to make an agreement work for all parties involved. In the rare cases you can’t, it’s best to know—and move to the next opportunity.