5 Reasons Why Your Offer on South Tampa Homes for

Sale Was Rejected

Anyone who was dead set at buying homes for sale in South Tampa area would get disappointed if their offer was rejected. Although this little hurdle won’t mean you can’t ultimately succeed in home buying, it is important to understand what went wrong. Knowing the reasons why your offer for a home was rejected can help you in preparing a better offer the next time around. There are numerous reasons for a rejection, but these are the most common ones:

It did not meet the seller’s requirementIt is common that a seller of a luxury home for sale in South Tampa has a list of conditions upon negotiation. It is the duty of your agent to find out what these things are so you can consider them in your offer. Sometimes an offer is rejected because there are requirements expected by the sellers which were not part of the offer. These can be very different things like a longer closing date, willingness to buy the home “as is”, or a significant earnest money deposit.

You priced your offer way too lowGenerally, sellers are not required to answer when buyers offer a lower price than that of a listing price. There are instances when sellers get furious upon getting a “lowball offer” that they give out their “No” outright. Others may not be insulted or angry, but they might think of you as a non-serious buyer and would therefore just ignore the offer. Other sellers may not be open to the idea of entertaining a lower offer price simply because their homes have just been listed and they don’t feel like negotiating yet with a low offer. Keep these things in mind before you make a lowball offer.

You have no pre-approval for a loanIt is easy for some sellers of real estate listings in South Tampa to reject an offer just because a pre-approval letter is not included. Naturally, a seller would only feel secure if they know that the buyer is financially capable of buying a home. The trick is to talk with a lender early on and get pre-approved for a mortgage loan. You can then include your pre-approval letter upon submitting an offer.

There’s a listing agreement in placeSometimes, the listing agent and the seller sign an agreement stating that when the agent would also represent the buyer, his commission with be reduced. This means it is more likely that the seller would decline an offer made by a buyer who has a different agent simply because he will avoid paying more. Check out our article at http://www.TampaTodayRealEstate.com/ on the responsibilities of a listing agent.

You’re competing with a better offerUltimately, even if you have done everything perfectly to submit an competitive offer, if there is a lot better option available to the seller, yours could just get rejected easily. This is especially true when the home gets the attention of many homebuyers. The best thing to do is to bid the best price you can afford and be comfortable with (within market value) and to throw in conditions meeting the seller’s requirements as much as you can.

Don’t get discouraged if ever your first offer got rejected. You can always talk to your real estate broker and try to get that South Tampa area real estate for sale through further negotiations. Just try to learn from your experience and get to know the possible reasons why your offer was rejected so you can prepare a more irresistible offer next time.

Call me, Mary G. Diaz at 813-245-9677 if you want to talk with a

professional Tampa FL real estate agent who would go the extra mile for you. Let me help you get the best deal with my knowledge and experience in homes for sale in South Tampa area.