Rejection is a hard thing to face in life, whether it’s from a potential client, a potential boss or a potential home seller. As a Santa Cruz home buyer, your stress level might be reduced if you’re aware of some of the reasons a seller may reject your offer.
Before I give you the list of reasons, I’d like to mention that even if you and your buyer’s agent do everything right, the seller may still reject your offer. It frequently has nothing to do with you.
With that said, here are 5 common reasons sellers reject offers on their homes:
1. The offer wasn’t enough for them to pay off their mortgage. For most sellers, the bottom line is paying off their mortgage. If your offer won’t cover the mortgage, they cannot accept it.
2. They may have just been testing the waters to see what they can get for their home.
3. Their plans may have changed. People put their homes on the market because they need to move, they want to upgrade their home, or they can no longer afford their Santa Cruz home. If the circumstances change, they may not need to sell their home.
4. Their deal may have fallen through. Perhaps your seller was buying another house contingent on the sale of their property. If something went wrong with that deal, they may not be able to sell their Santa Cruz home to you.
5. You may be asking too much of them. The seller may not have the time or money to make any repairs they think are insignificant. Perhaps you want to close too soon or would like to move in to the home before closing.
Don’t get depressed when a seller rejects your offer. There may be many reasons for their refusal. Help your real estate agent develop a counter offer, or move on to a new opportunity. There are a lot of homes on the market.
You may be pleasantly surprised when you start looking again and find a home that fits your lifestyle even better.
When you’re ready to buy a home, I can help you find a great home and negotiate to a successful “Yes, we’ll accept your offer.” Call me today at 831.662.6522 or email me at Lauren@LaurenSpencer.com to get started.