The Seller Rejected Your Offer. Now What?
Searching for a home is like searching for a soul mate. You ‘have to kiss a lot of frogs’ before you find ‘the one.’ But what if you’re a potential home buyer and you’re one of those frogs? After the seller rejected your offer, take these three steps to get back on course.
Don’t Over-Analyze the Seller
It’s easy to obsess over the reasons why the seller may have rejected your offer. Don’t. Trying to figure out the seller won’t get you anywhere. Worse, the time spent attempting to get inside the head of someone you don’t know is time spent away from your home search. If the sellers “just aren’t that into you,” it’s probably time to move on and keep looking ‘for love.’
Make Your Best Offer
Maybe you haven’t offered the maximum you can afford yet, wanting to keep some room for negotiation. If you find that the sellers aren’t responding positively to your offers so far, they may not be motivated to sell. Just because you’re a real and active buyer wanting to purchase their house doesn’t mean they have to accept your offer.
If they’re not responding, or they come back with a not-so-great counteroffer, cut to the chase. Make your maximum offer immediately and put it in writing. Then, if they still don’t respond, move on.
Put It All Behind You and Move On
Because purchasing a home can be both practical and emotional, it’s easy for a buyer (particularly a new one) to get hung up on one house and have trouble moving on. But this can only keep you from getting the house you want. To be a savvy buyer, consider each experience and the lessons learned. Chalk up unrealistic or unmotivated sellers to experience. Use that to your advantage the next time you make an offer.
At the closing table weeks or months down the road, you’ll likely look back on your “dream home” and realize the home you ended up with is better for you in the long run. Never forget that, no matter how much you believe this one was meant for you, there will always be another great house.