One of the reasons it is wise to hire a real estate agent as a buyer is to navigate some of the more difficult parts of the buying process. Handling a rejection of an offer is one of these areas. Imagine finding that dream home and putting in an offer only to find that it was rejected. What do you do? Here are a few avenues to take courtesy of Oswego IL real estate agent Lauralee McElroy.
It’s Not Fair
First, keep the right perspective on how the market works. This isn’t a battle of right and wrong. The seller is under no obligation to accept an offer. Even if their listing price seems to be inaccurate in a given market, they still retain the right to hold to their price. As a real estate agent in Oswego IL working with buyers, it is recommended to stay calm and think through practical strategies to work with the seller.
One ditch to be sure to avoid is to spend a lot of time trying to determine the motivation behind the rejection in order to coax the seller. You can research the home’s history and try to find out the reasons why the seller has their house on the market in order to find out why they didn’t accept your offer. Realistically, this typically results in little progress and a lot of frustration. Take is from an experienced Oswego IL Realtor, there are better ways.
The best option is to work out with your real estate agent the best offer you can make. If your initial offer was low and you had an expectation of negotiating, determine the most you can offer. Submit your offer with clarity and see what happens. It might be that the seller just isn’t ready to sell. If they still don’t respond to even your best offer, it is okay to move on. You never know, that house you thought was perfect for you might not be as good as the one right around the corner. For help buying your next home contact Oswego IL Realtor Lauralee McElroy today!