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What to do When a Seller Rejects Your Offer

Silver house key lying on a contract of house sale lease insurance or mortgage in a real estate concept viewed low angle with focus to the tip.

If you’ve fallen in love with a home and have made a good offer, but the seller won’t cooperate, you’ve likely found yourself in a frustrating dilemma of what to do next. There’s no law that says a seller must accept a buyer’s offer, no matter how great it is and even if you offer full price or above. So unfortunately, no matter how much you love a home or how much you’re willing to pay for it, this doesn’t always secure the sale. Let’s discuss three ways to cope when a seller refuses to sell.

  1. Avoid overanalyzing the situation.

It’s easy to get caught up in the emotion of negotiations especially when they come to an abrupt (and sometimes unexplained) halt. The truth is that you’ll never be able to understand the seller’s motivations for rejecting your offer(s).

Trying to figure out the seller’s side of things won’t get you anywhere. In fact, it will likely get in the way of you moving past the disappointment.

Plus, there is always the possibility that sellers will change their mind after you move on and they realize they’ve lost out on a good buyer.

  1. Give them your best and final offer.

When negotiating it’s common to start with a lower first offer to make room for counter offers. If the seller isn’t budging it may be because your first (or even second) offer was too far off. Give it one final shot and put your best offer on the table. This will give you the best chance of changing the seller’s mind and prompt them to work out a deal.

On the other hand, if your best offer doesn’t excite the seller chances are they’re not as ready to sell as they thought they were.

  1. Move on.

Moving on is tough. Home buying is emotional and buyers who are new to the process often become too attached to a single property without keeping their options open.

Remember that there is always another house out there that will fit your needs. It may just take a little longer to find it. Chances are, you’ll find the house of your dreams and look back at the house you lost out on and think nothing of it because you’re happy with the outcome.

 

Posted in Real Estate Tips on Sep 08, 2016

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