House-hunting or searching for land for sale in North Florida is exciting – and if you’re like most people, you know that when you make an offer, you do so with the expectation that the seller will accept it. Then you’ll go on to own the property, loving it for years.
But what happens if a seller rejects your offer, and is there any way to increase your chances of getting it approved?
Here’s what you need to know.
Why Do Sellers Reject Offers?
Sellers can reject an offer for just about any reason. Some of the most common reasons offers get thrown in the recycle bin include:
- The seller wants more money
- The buyer wants too many concessions
- The buyer can’t close when the seller needs you to
- A better offer (in any respect) came in
How to Avoid a Seller Rejecting Your Offer
Your agent will help you craft a great real estate offer, but ultimately, it’s up to the seller whether to accept, reject or negotiate it. You can increase your offer’s chance at acceptance by:
- Being flexible
- Offering a reasonable amount of money for the home
- Including an offer letter
Here’s a closer look at each.
#1. Be Flexible
Let the seller know you’re flexible with closing dates (unless you aren’t). Don’t be rigid when it comes to repairs, upgrades or concessions, either. Be willing to work with the seller so you can reach a deal.
#2. Offer a Reasonable Amount
Don’t lowball a seller. Remember, they’re people, too – and they may need to sell a property just to break even. If a property is listed for $250,000, don’t rush in and offer $200,000 without anything to justify your low offer; it’s insulting to the seller, and it’s likely to result in an immediate rejection unless you can show that you’ll have to pour $50,000 of your own money just to make the space livable.
#3. Include an Offer Letter
It doesn’t always work, but writing a note to the seller about why you want the property can be a nice finishing touch. Steer clear of saying things like “I can’t wait to tear out that ugly garden and build a workshop,” though.
Are You Buying a Home or Land for Sale in Lake City?
If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.
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