The Reasons Why Your Offer Was Not Accepted

As a buyer in today's market, feeling discouraged is quite normal. It's tough out there when 30 people want the same home as you.

You've probably lost out on a few homes that you thought were the one, and while I'm a big believer that everything works out how it's supposed to, it's important to understand why your offers are not getting accepted.

Reason #1: You didn't have a pre-approval letter from a reputable lender.

Before you even start searching for homes, you should have that pre-approval letter from a lender. I recommend speaking to a local, reputable lender, rather than a bank, because lenders don't have "bank" hours and they genuinely care about you as a person.

Every time I send an offer for my clients, I obviously include their pre-approval letter, but I also give the listing agent the lender's contact information so they are able to contact them and speak with them to ensure that your financing will go through! This really gives sellers a peace of mind when accepting an offer, because ultimately they want to make sure you, as the buyer, can really afford and seamlessly purchase their home to avoid hurdles throughout the process.

Reason #2: You're unrealistic.

The first thing your Realtor should explain to you before you even start the process, is the state of the market. In a normal market, as a buyer, you have leverage. It's normal to negotiate and ask the seller for things. In this extreme seller's market...you have no leverage as the buyer. And I know that can be a hard pill to swallow, but let's be real, you either want to buy a house or you don't, and you need to adapt to the ways of the market if you do.

This could relate to a few things, one of them being that you have too many contingencies. Do you have a home sale contingency before even having your house up for sale with an accepted offer? Did you include a long list of items that your offer is contingent on in addition to the absolutely necessary ones. Did you ask for the fridge and the couch when the sellers said they are not included? Many items can be negotiated but if you really want the house, you need to be realistic and not over the top.

Another way you can appear unrealistic is to low-ball the sellers with your offer price. When this happens, the sellers may get offended and think you’re not serious. Have market data that backs up your offer price rather than throwing out a number that you think you want to pay if you want to be taken seriously.

One more reason you might be being unrealistic is that you gave the sellers an extremely short turnaround time to respond to your offer. This is a MAJOR turn off. Even if you are in a competitive offer situation, you should focus on strengthening your offer and submitting what you feel is the best you can do rather than pushing the sellers to respond in an unreasonable amount of time.

Stick to what is the most important to you when it comes to writing offer contingencies.

Reason #3: The Seller is unrealistic and difficult.

If this is the situation, it's out of your control. But with it being a hot seller's market, and seller's being aware of this, sometimes they put their big boy pants on and are extremely difficult to work with. Just have this expectation going into your offer process, and hope that the seller's are good, nice people!

Reason #4: Your buyer's agent isn't easy to work with.

You might be wondering what the buyer’s agent has to do with how much you’re offering the seller. Well the buyer’s agent actually plays a very crucial role in this process because whoever you choose is going to be the one communicating and negotiating with the listing agent and therefore the sellers, throughout the entire transaction. If the listing agent has had bad experiences with them in the past, they may share this with the sellers, making your offer less appealing.

Make sure you’re interviewing your Buyer’s Agent before committing to working with them.

Reason #5: You didn't find out what's important to the seller's.

If you and your agent write an offer without ever asking the listing agent what is important to the seller such as their timeframe for closing or any other factors that might be deal breakers, you might put yourself out of the running when the seller has to decide whether or not they want to accept your offer. Make sure your agent takes the time to get in touch with the listing agent and find out any details that may help you write a more desirable offer.

---

Follow these guidelines throughout your next offer process, and most importantly, be patient and do not get discouraged. Find a Realtor and a Lender who are on your side! This market isn't for the weak. So stay hopeful, strong in your offers, and keep on pushing.