Reasons to Reject an Offer to Purchase

by Rudden|Bobruska Team 02/03/2019

Let's face it – reviewing an offer to purchase can be difficult. And if a home seller feels unsure about a homebuying proposal, this individual may want to consider rejecting the offer to purchase.

Ultimately, there are many reasons why a home seller may decline an offer to purchase, and these include:

1. An offer to purchase fails to meet a home seller's expectations.

If a home seller receives a "lowball" offer to purchase, he or she may submit an instant rejection. In fact, this seller likely will have no regrets about declining the offer to purchase and continuing to wait for a homebuying proposal that matches his or her expectations.

As a home seller, it is vital to establish realistic property selling expectations before you list your residence. If you set a competitive initial asking price for your home, you may reduce the likelihood of getting lowball homebuying proposals. And as a result, you may be better equipped than ever before to speed up the home selling journey.

2. A home seller has multiple offers to purchase at his or her disposal.

If a home seller receives multiple offers to purchase his or her home, this individual likely has a tough decision to make. Fortunately, a seller can review his or her options and make an informed decision.

When a home seller receives several offers to purchase his or her residence, there is no need to rush to reject or accept a proposal. Instead, a seller should evaluate each homebuying proposal closely and use all of the information at his or her disposal to determine the best course of action.

3. A home seller can afford to wait.

If a home seller lists his or her residence in a buyer's market, the demand for houses may be limited. Conversely, if a seller lists a home in a seller's market, this individual may receive many offers to purchase as soon as his or her residence becomes available.

Sometimes, a home seller who can afford to be patient may choose to reject an offer to purchase in a buyer's market, even if the proposal is competitive. Because if the seller waits for the real estate market to improve, this individual may be able to optimize the value of his or her residence at a later time.

For home sellers who are committed to getting the best price for a home, it generally is a good idea to employ a real estate agent. This housing market professional will help a seller establish a competitive initial asking price for his or her residence. Plus, a real estate agent will set up open house events and home showings to promote this house to potential buyers. And if a seller receives an offer to purchase, a real estate agent can recommend whether the seller should reject, accept or counter the proposal.

Want to list your house and streamline the property selling journey? Hire a real estate agent, and you can work with a home selling expert to evaluate any offers to purchase your residence.

About the Author
Author

Rudden|Bobruska Team

Gary Rudden, Lisa Rudden, and Nick Bobruska  

RUDDEN BOBRUSKA TEAM

What sets your team apart from other real estate teams?

There is no team out in the market that offers what we do. All of us are Realtors, but

we each have specialized roles, which make our team so unique!

After decades of living and selling real estate in the DMV, we have established

ourselves as one of the top real estate teams with our market expertise and

cutting-edge technology. Our savvy high-tech marketing is on every website

and social media source. We have a huge network with other top agents, which

helps to premarket homes and discover homes for buyers before they reach the

open market. Our services include professional in-house staging services, broker

expertise in negotiating and navigating contracts, and buyer representation in all

price ranges. Each client has different needs and we create a marketing plan based

on those needs.

Our most distinct feature is our in-house construction and renovation team. We

are literally a full-service, one-stop shop when selling or buying a home!

How does the in-house construction and renovation team work?

All work is managed and completed through our licensed and bonded construction

crew. No need to call outside contractors. We are like “HGTV,” but we just don’t

have a show! Whether it’s a small makeover or a major renovation, we do it all. Our

sellers love this aspect of our team because we make preparing your home for the

market so seamless. Our buyers love the advice and insight we can give for future

renovations and repairs.

Having a licensed Maryland Home Improvement contractor as part of our team

along with the knowledge, experience, commitment and services that we offer, truly

puts our team as a vanguard in the real estate industry.