My offer fell through - now what?

PUBLISHED 23 JUL 2019   

You’ve found what looks like your dream house, you’ve visited it, many times, and fallen in love - and you’ve made an offer you thought they couldn’t refuse…

But they did.

Nobody wants to get that call from their estate agent to say that their offer to purchase has been rejected - but unfortunately, it happens.

The good news is, it’s not the end of the world. There are so many properties out there - you just have to find the right one. And we’d love to help you do just that.

If your offer to purchase was rejected, there’s hope. Here’s what you’ll want to do as you continue your property search.

Rejection - it's not as bad as you think

In life, you win some and you lose some. Buying a property is no different.

With several buyers interested in the same property, sellers often have the upper hand when it comes to choosing the best offer.

Even if your offer was excellent, there could be another reason why it was rejected.

  • The buyer could have decided not to sell after all
  • They could be waiting for a higher price even though yours was competitive
  • They may have received a cash offer from a buyer who can conclude the deal immediately
  • They may have had personal reasons for not accepting - and there’s nothing you can do about that.

If your offer was rejected, all you can do is learn from the experience. Here are some things you can do to increase the chances of your offer being accepted.  

What does a winning offer look like?

Ask any seller what their idea of a great offer is, and they’ll probably say it’s the closest offer to the price they had in mind - from a buyer who has ready cash.

As a buyer, you need to make the seller an offer that’s enticing.  

That means you’ll need to be reasonable about the price you offer and have cash - or a pre-approved bond available to seal the deal.

  • Before you make an offer to purchase, it’s a great idea to apply for bond approval on the amount you’re thinking of borrowing to buy your dream home.
  • If you’re selling your current home, waiting until the cash is in the bank before you make an offer to purchase is the ideal way to go.

The Cape Realty team will be on hand to advise you at every step of the way as we search for your dream home together. Contact ustoday to get started.

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