What to Do If a Home Seller Rejects Your Offer to Purchase

by David Gerwels 01/14/2019

If a seller rejects your offer to purchase his or her house, there is no need to panic. At this point, there are many things you can do, including:

1. Craft a New Offer to Purchase

If at first you don't succeed, try again. Remember, if you find your dream house but your initial offer to purchase is rejected, you can always create a new homebuying proposal. And if you submit a new offer to purchase that falls in line with a seller's expectations, you may receive an instant "Yes."

For those who decide to submit a new offer to purchase a residence, it is important to avoid making the same mistake twice. Thus, you should analyze the home you want to purchase, along with the current housing sector. Because if you use a variety of real estate market data, you could submit a competitive offer to purchase your dream house.

2. Reenter the Housing Market

A seller may reject your offer to purchase his or her house, and as such, you may need to continue your home search. Fortunately, quality residences are available in cities and towns nationwide, which means there are lots of great houses at your disposal.

Of course, you may want to put together a homebuying budget, too. If you have a homebuying budget in hand, you can search for houses that match your price range.

To craft a homebuying budget, you should meet with banks and credit unions. These financial institutions can offer home financing insights and help you get pre-approved for a mortgage. And once you have a mortgage, you will know exactly how much you can spend to acquire your ideal house.

3. Consult with a Real Estate Agent

A real estate agent is happy to help you determine the best course of action after a seller rejects your offer to purchase. In fact, he or she will do everything possible to help you streamline the homebuying journey.

Typically, a real estate agent will learn about you and your homebuying goals. He or she then will create a homebuying plan designed to help you achieve your desired results. Next, you and a real estate agent will work together to transform your homebuying vision into a reality. And as you navigate the homebuying journey, a real estate agent will provide comprehensive housing market insights you may struggle to obtain elsewhere.

Let's not forget about the assistance a real estate agent will provide as you get ready to submit an offer to purchase a house, either. A real estate agent will help you craft a competitive offer to purchase any home, at any time. Best of all, if your homebuying proposal is accepted, a real estate agent will help you finalize your house purchase as quickly as possible.

Clearly, there are many things you can do if your offer to purchase your ideal house is rejected. If you start planning ahead for the homebuying journey, you could boost the likelihood of enjoying a seamless property buying experience.

About the Author
Author

David Gerwels

David has been helping clients with their real estate needs since 2006.  On Hilton Head Island he has experienced and lived in the villa, gated, and non-gated communities.  His love of this unique area and care of his client's individual needs are of utmost importance.  Whether you seek a dream home or investment real estate he can help you achieve that goal.

He is the current President of the Property Owners Association of Burkes Beach, an upscale beachfront community located mid-island.  He is an avid college football fan and University of Tennessee graduate in Business Management. He is the proud Father of five island children, Palmer, Baylor, Banks, Beres, and Jewels.