My Buyer’s Offer Did Not Get Accepted. What Can They Do? Part 3 of 4: The Offer
Description
Whether you are starting the process of buying your first or your “next” home, actively engaged in house hunting or you have already been denied a house you really wanted to own, I want to share some time-tested advice. I am going to cover this from four perspectives. This is part 3 of 4. This is a broad topic with no “one size fits all” answers. My advice comes with two disclaimers: this is not intended as legal advice and it is not meant to interfere if you have an existing business relationship.
Let me start with the premise that a buyer or you made an offer and it was rejected. If a buyer makes what they think is a reasonable offer and the seller does not accept it, they should have no regrets. Easy for me to say. If yours was the only offer, I would assume that you had a chance to negotiate with the owner but could not reach a mutually beneficial solution. If you were competing with other buyers, only one offer could win. Did the buyer have the right expectations about the process and how it might go? Could or should their agent or the listing agent or the seller have done anything differently? If the seller was given an opportunity to review all offers and was properly informed of any possible interest that existed and they accepted what they thought was the best offer, there may be no valid reason to complain about the outcome. Every signed agreement does not close so you may get another chance, if you want one, but do not assume you will. In fact, depending on the type of Real Estate market, you may want to assume that you have competition and that you will not have a chance to change your initial offer.
I provide my buyer-clients with knowledge that I have gained through my years of experience, training and education. I have also learned a lot from conducting mediations between buyers and sellers and listening to ethics complaints about agents. Fundamentally, I believe that the process of buying or selling Real Estate is best looked at as a business decision, not a personal one. It is also not a retail transaction.
Looking for a house can become a full-time job but it is worth it. Your life will get back to normal after you succeed. Bad purchase decisions can be costly and their effects can last a long time. Real Estate is typically our biggest asset and requires our largest investment so buying or selling it requires planning and preparation. It deserves our full attention.
As I discussed in part two, The Search, once a buyer starts to identify possible houses to consider looking at and buying, there is a process to narrowing the list down to the best and getting in to see and evaluate them as quickly as possible. I remind buyers that proper planning and preparation will position them to compete better and that they are not the only buyer seeing the search results they receive. It all comes down to making an offer that will appeal to the seller or, at the
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Please remember, when thinking about selling or buying what is likely your biggest asset and largest overall investment,
There is no time for inexperience, empty promises or false expectations!
HIRE WISELY: We are not “all the same”!



