The Real Reason your offer isn't getting accepted

Purchasing a home is an exciting yet challenging experience. Finding the right house that meets all your requirements can take weeks to months. However, the real challenge comes when you're making offers but can't get one under contract. There are several reasons why your offer may not get accepted when trying to purchase a home, and it's essential to identify these factors to increase your chances of success.

Here are some common reasons why your offer may not be getting accepted:

1. Too many contingencies: When you add too many contingencies to your offer, it can make the seller hesitant to accept it. Contingencies are clauses in a contract that allow you to cancel the agreement if certain conditions aren't met. While contingencies can protect you, they can make the seller feel like they're taking a significant risk, and they may choose to go with another offer that has fewer contingencies.

2. Price: Money talks! The price you offer is a crucial factor (if not the most important) when it comes to getting your offer accepted. If your offer is too low, the seller may not take it seriously and go with another offer that's closer to their asking price.

3. Not being flexible with closing date: The closing date is when the property's ownership is transferred to the buyer, and it's the finish line of the home buying process. If you're not flexible with the closing date, it can make it difficult for the seller to accept your offer. You may also need to include a PCOA or Post Closing Occupancy Agreement that allows the seller to live in the home for a short period after closing.

4. Not having a pre-approval letter: A pre-approval letter is a document that shows that you've been pre-approved for a mortgage loan. It demonstrates to the seller that you're a serious buyer and that you have the financial means to purchase their property. If you don't have a pre-approval letter, the seller may not take your offer seriously. We also don't want to offer on a home you won't be approved on, so a pre approval is essential!

5. Overall offer strength: When you make an offer, you want it to be as strong as possible. This means that you should be willing to put down a significant amount of earnest money, have a favorable closing date, and be willing to negotiate on price for a well rounded offer. It's my job as your Realtor to find out the needs of the seller and work together to make competitive offers so you can get the home and the deal of your dreams!

Don't give up! Purchasing a home is a marathon, not a sprint, keep making those offers until something sticks.