Perfect Home Realty
Mary Nielsen, Perfect Home RealtyPhone: (210) 860-8516
Email: [email protected]

Why Your Offer Isn't Accepted

by Mary Nielsen 12/22/2019

The decision to buy a home can bring all sorts of emotions. From stress to joy to fear, you need to be prepared for any situation to arise. From saving up enough money for a down payment to securing financing to hoping for a smooth closing, buying a home is a complex event. Just about the worst thing that can happen in the process is finding the home of your dreams and then having your offer rejected. If you do lose out on the house to another bidder, below, you’ll find a few reasons why.


The Home Is Above Your Means


If you go after a home that’s above a price that you can afford, it’s likely that your offer will be declined. Look at all of your numbers and find a reasonable price point with your real estate agent. Be sure that your agent won’t show you homes that are far above your budget. Don’t risk falling in love with a house that you can’t afford. If you start big, you may be disappointed at the type of home you actually can fit in with your budget. 


A Better Offer Came In


In high competition markets or for a home that’s receiving a lot of attention, sellers may get multiple offers. All that attention is why it’s always best to keep your offer as close to the asking price as possible. Don’t assume that other buyers will bid low. Remember that sellers want to get the most return on their home, which means they are going to take the highest offer in most cases.


You also don’t want to get too carried away in asking for contingencies. If you ask too much of a seller’s, they won’t bother giving your offer serious consideration when other buyers have asked them to put less time and money into the home. Don’t ask for unnecessary repairs or over the top back costs. 


You’re Not Approved For A Mortgage


The seller wants you to have a home loan pre-approved so that the process of selling their home will be that much smoother. Some seller may only consider bids by buyers who have been pre-approved for a loan. You should definitely be pre-approved before you even set out on your home search.


To get your offer accepted on a home you love, you need to do your homework. As a buyer, you want to keep the needs of the seller in mind. Although you want the best deal for yourself, you're more likely to get a property that you want if you compromise a bit. 


About the Author
Author

Mary Nielsen

 Mary Nielsen, is a leading real estate broker in San Antonio and owner of Perfect Home Realty.  Her real estate experience started as a young child working with her father, a real estate agent and investor. She settled in San Antonio long term in 2011 and entered sales full time in 2013. Mary holds the Accredited Buyer Representative (ABR), Counsel of Residential Specialist (CRS), Graduate Realtor Institute (GRI), Military Relocation Professional (MRP), & Historic Home Specialist (HHS) titles, Bachelor of Fine Arts (BFA), Master of Arts (MA) in counseling, and Master of Engineering Science (MES) in Computer Science. Mary serves on the REALTOR® Image & Community Outreach committee and is a participant in the 2019 Texas Realtor Leadership Program.  With Mary’s history and experience with 8 moves around the country, she has a particular passion for families in need of relocation and people searching for new home construction. Mary has helped 80+ families with $14 million in sales. Mary has personally invested in real estate since 1997. She has built a personal single and multi-family home portfolio of over $2 million in value, and is partnered in two apartment complexes totaling 417 units. She is a regular volunteer with Texas Ramp Project, Animal Defense League, and Haven for Hope. Client education & consistent communication are cornerstone to her business. Mary Nielsen is ready to be your trusted full-service real estate consultant.