15 Sure-Fire Ways to Get Your Offer Rejected!

Reblogger James Lowenstern
Real Estate Sales Representative with Castles Unlimited®

Here are 15 ways to get an offer rejected.  I wish to add another TWO: 1) Ask to store your furniture in their basement or garage before the closing.  The seller's attorney will probably reject this request due to liability. 2)  Early closing date.  The buyer needs to move but the seller doesn't move for 90 days.  The buyer needs to work with the needs of the seller.  Especially in a hot market and an occupied property.

Original content by Fred Griffin Tallahassee Real Estate Florida Broker BK436788

You found your Dream House!  After weeks of looking at houses, this is it!  Your Agent prepares an offer; you sign it.  But wait - oh, No!  Your Offer has been Rejected!

 

Offer Rejected

 

15 Ways to Get Your Offer Rejected

 

1.   Offer Price is Low!

     This is the first thing that a Seller looks at when in an Offer comes in!  If you believe that a Lower Price is justified, have your Agent present some comparables or an appraisal to back up your offer.

 

2.  Fail to understand your Local Market 

     Is it a Buyer's Market, a Seller's Market, or just a Market?  Look at actual sales data, including time on market, inventory (number of houses for sale), and sales price to list price ratios.

 

3.  Fail to understand the Seller

     Moving out of town, moving up, investor unloading an asset, bank owned, short sale, Court-ordered sale...  does your Agent know the motivation or reason of the Seller?

 


4.  No Pre-Approval Letter or Proof of Funds Letter

      Is the Seller supposed to wait a week or two to see if you can afford it?

 

5.   Ask Seller to Pay All Closing Costs

     Asking the Seller to pay $$$ Thousands of Dollars in Costs is effectively lowering the Price!

 

Offer - Sellers Pays All Closing Costs

 

6.   Low or No Deposit

     In some States (including Florida) there is no monetary deposit required.  Your "promise" is considered valuable consideration.  But how do you think those Goose Eggs on the Deposit Line look to a Seller?  

     Or maybe you presented a whopping $500 or $1000 deposit.  The strength of your Offer is reflected in your Deposit!  Even with a 100% USDA Rural or 100% VA Loan, you should still offer a significant deposit.

 

7.   Contingencies

     Financing and Inspection contingencies are common and expected.  But for how long?  Five days looks better than 14 days or 21 days!

     Other Contingencies can be detrimental to an offer.  For example, "Buyer's Home Must Sell First".

 

8.   Asking for Personal Property

     The Seller has volunteered to leave the light fixtures, window treatments, and the appliances.  You decide to ask for the Pool Table, the Flat Screen TV, and the Furniture.

 

Offer Rejected over Personal Property Included

 

8.   Closing Date

     The Seller has already moved out.  Your Offer shows a Closing Date several months from now.

 

9.   Asking for Repairs

     Especially before Inspections have been done!  Or, when the MLS Listing reads, "As Is, Subject to Inspections".

 

10.  Trying to Get a Deal on a Foreclosure

     Forget it!  The hucksters on those "Get Rich Quick in Real Estate" Infomercials are either in prison or under indictment.  

 

11.  Asking for Early Possession

     There is a lot of risk and potential liability for a Seller who allows Occupancy Prior to Closing.

 

12.  "Creative Financing"

     Asking a Seller (who has not volunteered) to carry Owner Financing, or asking a Seller to do a Lease Option or Lease Purchase, or a Contract for Deed, or other "Creative Financing".

 

13.  Ignoring Seller Requests

     Seller has made specific requests in the MLS Listing (preferred Title Closer, length of Closing, days for Acceptance, etc.) and your Offer blatantly disregards those requests.

 

14.  Not Understanding "Multiple Offers" if you are in a Hot Market

     If you are in a Market where Multiple Offers are typical, you MUST come in with your Best at the very beginning!  A low-priced, contingency-filled offer will not warrant a second look!

 

15.  Your Offer is Never Presented  (yes, it happens)

     It may be illegal and/or unethical, but sometimes Agents do not present Offers!

  •     Your Agent may be "embarassed" over your Low-Ball Offer, so he pretends it was rejected. 
  •     An unethical Listing Agent has multiple Offers; she only presents the Offers that will net her both sides of the commission!

        It is up to you to verify that your Offer was presented!


House for Sale Tallahassee Florida

 

     Every Real Estate Market is different, every Seller and every Property will be unique.  But the same general principles apply.  A Buyer must present an Offer that is attractive to the Seller. 

     Don't do any of the 15 Things that will get Your Offer Rejected!

___________________

 

Disclaimer:   The author of this blog article is not an attorney; the author of this blog article is not a certified public accountant. Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Frederick Griffin, Licensed Real Estate Broker       Tallahassee, Florida       850-339-4861

Photo Sharing and Video Hosting at Photobucket

Hire an Experienced Professional

     Buying or Selling a Home in Tallahassee, Florida?  You need the services of a serious, dedicated Real Estate Broker when making the biggest financial transaction of your life.  Call Fred today!  850-339-4861

 

Realtor MLS Logo Tallahassee Multiple Listing ServiceHUD Logo Fair Housing  Realtor Logo

 

https://plus.google.com/118125414846393355080/posts     www.facebook.com/FredGriffinRealEstate     Pinterest.com/FredGriffin     www.linkedin.com/in/FrederickGriffin   Twitter.com/FredGriffin    http://www.youtube.com/fredgriffinflorida


www.FredGriff.in

Frederick Griffin, Licensed Real Estate Broker       Tallahassee, Florida       850-339-4861

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Spam prevention
Show All Comments
Rainmaker
507,390
James Lowenstern
Castles Unlimited® - Newton, MA
Castles Unlimited. Newton MA Real Estate

 I wish to add another TWO: 1) Ask to store your furniture in their basement or garage before the closing. The seller's attorney will probably reject this request due to liability. 2) Early closing date. Your buyer needs to move but the seller doesn't move for 90 days. The buyer needs to work with the needs of the seller. Especially in a hot market and an occupied property.

Mar 25, 2013 05:57 AM #1
Rainmaker
864,177
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

James - any of the items on the list is definitely a sure way to get one's offer rejected. Seller's agents have many options now days and they prefer smooth, clean and easy transactions.

Mar 25, 2013 06:03 AM #2
Ambassador
645,788
Larry Lawfer
YourStories Realty Group powered by Castles Unlimited® - Newton, MA
"I listen for a living." It's all about you.

How about unrealistic time constraints and demands.  With the plethora of cash buyers in the market trying to lock up property, when you ask and then demand that a property be delivered in such a time frame that the title can't be fully vetted, the Seller can't get the mover's scheduled, the attorney can't review documents you will face a rejection as well.

Mar 25, 2013 08:43 PM #3
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
507,390

James Lowenstern

Castles Unlimited. Newton MA Real Estate
Ask me a question
*
*
*
*

Additional Information