Reason #1: You’re Missing a Pre-approval Letter
How to Correct This: Talk with local lenders about your options and get a pre-approval letter from them that you have in hand, ready for your Real Estate Agent to scan over with the offer.
Reason #2: You’re Unrealistic
Another way you can appear unrealistic is to low-ball the sellers with your offer price. When this happens, the sellers may get offended of think you’re not serious. Have market data that backs up your offer price rather than throwing out a number that you think you want to pay if you want to be taken seriously.
One more reason you might be being unrealistic is that you gave the sellers an extremely short turnaround time to respond to your offer. This is a MAJOR turn off. Even if you are in a competitive offer situation, you should focus on strengthening your offer and submitting what you feel is the best you can do rather than pushing the sellers to respond in an unreasonable amount of time.
How to Avoid This: Stick to what is the most important to you when it comes to writing offer contingencies. Make sure you’re going over market data with your Real Estate Agent so that you’re backing up the offer price you’re putting out there. Lastly, give the sellers a reasonable turnaround time. Pushing them into a corner will not result in getting what you want and it will only get you off to a bad start with them.
Reason #3: The Seller is Difficult or Unrealistic
How to Avoid This: While this one isn’t entirely avoidable, it’s important that before starting your home search that you understand that some sellers are just going to be difficult. Having the expectation that not every seller will agree to what you offer will help eliminate a lot of frustration for you as a buyer when your offer is rejected.
Reason #4: Your Buyer’s Agent Isn’t Easy to Work With
How to Avoid This: Make sure you’re interviewing your Buyer’s Agent before committing to working with them. Find out what their negotiating style is and get a feel for their personality. Do they seem easy to work with or like they’d make others mad?
Reason #5: You Didn’t Find Out the Seller’s Timeframe or Situation
How to Avoid This: Make sure your agent takes the time to get in touch with the listing agent and find out any details that may help you write a more desirable offer.
If your first offer got rejected, there is likely a reason. The best way to make sure your next offer is accepted is to go in fully prepared. Following these guidelines will not only prepare you for what to expect but can help set you up for success! Soon you’ll be entertaining in that beautiful open concept space you’ve been dreaming of (insert your #1 home wish list feature)!
Are you ready to explore the best of Waco real estate? From homes for sale in Belton to West real estate, allow The Truss Team’s years of experience and expertise to be your guide to Waco's luxury real estate market. Contact us today to start your home buying or selling journey.