It is no secret that we are in a seller’s market and that may lead to having your offer rejected by sellers. Receiving rejection letters can be an emotional and draining experience, however, there are a few things you can do to help boost your chances of acceptance. While there is no magic rule book that ensures that your offer will be accepted, there are a few reasons that you may be receiving more rejections than you expected. While there are many different factors that could be playing a role in your rejections or acceptance, these 4 things may be hurting your chances the most.
#1 Offering Below Asking
While you once could barter and offer less than asking and still have a good chance of receiving acceptance, in today’s market nearly all offers that are not at full asking price or above are automatically tossed out.
#2 Including Contingencies
While not all contingencies are “bad” there are many buyers who are choosing not to including any contingencies within their offer which then makes their offer look more appealing than others. A contingent offer will nearly always look worse than a contingency free offer. While this will help your chances of acceptance, you need to make sure that you are comfortable choosing to not include any contingencies, as it could alter your home buying experience.
Related: Waiving an Appraisal
#3 Competitive Market
The market is competitive, it is that simple. In a competitive market it is more likely to receive multiple rejections before you have an offer accepted. Try not to take it personal and keep hunting until you find the house to call home. Pull out all the stops. If your offer isn’t competitive it won’t be considered. Throw in a personal letter to the homeowner to help your offer stand out among the rest.
#4 Flexibility or Timeline
If you aren’t flexible to the seller’s timeline or needs than you risk rejections. Being as flexible as possible or adhering and catering to the seller’s timeline is one of the best ways to ensure that your offer is accepted and not rejected.
Related: How Much Home Can I Afford?
If you are in the market for a new home, it is important to remember that the market is hot, and homes are selling FAST. Discuss your wants and needs in depth with your agent and make sure that if you are ready to place an offer that it is competitive with the current market to help boost your chances of acceptance.
If you’re currently searching for a new home, are ready to sell your home and are in need of a seller’s agent, or if you have any questions regarding Carolina Real Estate, please feel free to contact our office at any time and we would be more than happy to assist you.