June 05, 2016 - 02:58
Looking for a home to buy can be a long process and an emotional one as well. You will see many homes before you find the right one, and once you do it still doesn’t guarantee that the home will be yours. Unfortunately, sellers don’t base the sale of the home by how strong your emotional connections is to the home. And if you’ve fallen in love with a home, made the best offer and the seller won’t cooperate, you might find yourself trying to figure out what to do.
There is no policy or regulation that binds the seller to forcefully accept your offer, no matter how much you love the home. Each seller will have different motivations for selling and it will come to their decision whether to reject your offer at least counter offer.
So lets say you put in an offer to a home you fell in love with, and in a few days you realize that it has been rejected. Now what?
Its easy to spend hours thinking of reasons why the seller rejected your offer. You could spend plenty of time looking up homes sales history, tax records and data you received from the seller’s agent. But the fact of the matter is that you were rejected, and trying to figure out why could be a waste of your time. Instead use that time to search for other homes that could interest you.
Maybe you haven’t offered the maximum you could afford because you wanted to keep some room for negotiation. If you notice that the sellers are not responding very positively to your offer it might mean that they are not so motivated and are expecting a better offer. If they don’t respond or make a not so great counter offer then just try to cut to the chase. If you really want the home then it might be good to make your maximum offer, but if they still don’t respond to it then it might be time to start looking somewhere else.
It’s easy for a buyer, especially a new one, to get hung up on a beautiful home that they were not able to get. But dwelling in it will just stop you from moving forward and keep you from getting the house you want. Be a smart buyer, consider each experience and mark down the sellers who are unrealistic and unmotivated to sell so you can learn to avoid them next time. Once at the closing table, you will be glad that you moved on from your rejected offer and found an even better home.