Read This BEFORE you write your next offer and WIN the House!

15 Ways to Get Your Offer Rejected

 

1.   Offer Price is Low!

     This is the first thing that a Seller looks at when in an Offer comes in!  If you believe that a Lower Price is justified, have your Agent present some comparables or an appraisal to back up your offer.

 

2.  Fail to understand your Local Market

     Is it a Buyer’s Market, a Seller’s Market, or just a Market?  Look at actual sales data, including time on market, inventory (number of houses for sale), and sales price to list price ratios.

 

3.  Fail to understand the Seller

     Moving out of town, moving up, investor unloading an asset, bank owned, short sale, Court-ordered sale…  does your Agent know the motivation or reason of the Seller?

 

4.  No Pre-Approval Letter or Proof of Funds Letter

      Is the Seller supposed to wait a week or two to see if you can afford it?

 

5.   Ask Seller to Pay All Closing Costs

     Asking the Seller to pay $$$ Thousands of Dollars in Costs is effectively lowering the Price!

 

Offer - Sellers Pays All Closing Costs

 

6.   Low or No Deposit

     In some States (including Florida) there is no monetary deposit required.  Your “promise” is considered valuable consideration.  But how do you think those Goose Eggs on the Deposit Line look to a Seller? 

     Or maybe you presented a whopping $500 or $1000 deposit.  The strength of your Offer is reflected in your Deposit!  Even with a 100% USDA Rural or 100% VA Loan, you should still offer a significant deposit.

 

7.   Contingencies

     Financing and Inspection contingencies are common and expected.  But for how long?  Five days looks better than 14 days or 21 days!

     Other Contingencies can be detrimental to an offer.  For example, “Buyer’s Home Must Sell First”.

 

8.   Asking for Personal Property

     The Seller has volunteered to leave the light fixtures, window treatments, and the appliances.  You decide to ask for the Pool Table, the Flat Screen TV, and the Furniture.

 

Offer Rejected over Personal Property Included

 

8.   Closing Date

     The Seller has already moved out.  Your Offer shows a Closing Date several months from now.

 

9.   Asking for Repairs

     Especially before Inspections have been done!  Or, when the MLS Listing reads, “As Is, Subject to Inspections”.

 

10.  Trying to Get a Deal on a Foreclosure

     Forget it!  The hucksters on those “Get Rich Quick in Real Estate” Infomercials are either in prison or under indictment. 

 

11.  Asking for Early Possession

     There is a lot of risk and potential liability for a Seller who allows Occupancy Prior to Closing.

 

12.  “Creative Financing”

     Asking a Seller (who has not volunteered) to carry Owner Financing, or asking a Seller to do a Lease Option or Lease Purchase, or a Contract for Deed, or other “Creative Financing”.

 

13.  Ignoring Seller Requests

     Seller has made specific requests in the MLS Listing (preferred Title Closer, length of Closing, days for Acceptance, etc.) and your Offer blatantly disregards those requests.

 

14.  Not Understanding “Multiple Offers” if you are in a Hot Market

     If you are in a Market where Multiple Offers are typical, you MUST come in with your Best at the very beginning!  A low-priced, contingency-filled offer will not warrant a second look!

 

15.  Your Offer is Never Presented  (yes, it happens)

     It may be illegal and/or unethical, but sometimes Agents do not present Offers!

  •     Your Agent may be “embarassed” over your Low-Ball Offer, so he pretends it was rejected. 
  •     An unethical Listing Agent has multiple Offers; she only presents the Offers that will net her both sides of the commission!

       It is up to you to verify that your Offer was presented!

House for Sale Tallahassee Florida

 

     Every Real Estate Market is different, every Seller and every Property will be unique.  But the same general principles apply.  A Buyer must present an Offer that is attractive to the Seller. 

     Don’t do any of the 15 Things that will get Your Offer Rejected!

___________________

 

Disclaimer:   The author of this blog article is not an attorney; the author of this blog article is not a certified public accountant. Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Provided by Guest Blogger: Frederick Griffin, Licensed Real Estate Broker       Tallahassee, Florida       850-339-4861

Keller Williams Realty Ranked Highest in Customer Satisfaction Among Home Buyer and Seller Segments by J.D. Power and Associates

 

SAN DIEGO, CA August 28, 2012 — According to the J.D. Power and Associates 2012 Home Buyer/Seller Satisfaction StudySM released earlier this month, Keller Williams Realty, Inc. ranks highest in customer satisfaction in both the home buyer and home seller segments. Keller Williams Realty, Inc. achieved the highest scores in all measured factors across both segments, receiving the highest JDPower.com Power Circle RatingSM among its competitors overall.

 

“We are so proud to have our associates be recognized once again for leading the industry with the influence and reputations they have in their local communities. They continually demonstrate not only their level of talent, but their commitment to serving our communities with the utmost integrity and highest level of service,” Mark Willis, CEO of Keller Williams Realty, Inc., stated. “Congratulations to all Keller Williams Realty associates. They have certainly earned this prestigious distinction.”

 

The fifth annual J.D. Power and Associates study measures customer satisfaction with the largest national real estate companies within the home buyer and seller segments. Scores are determined by examining three factors of the home-buying experience: agent/salesperson; office; and variety of additional services. For the home-selling segment, agent/salesperson; marketing; office; and variety of additional services are examined.

 

J.D. Power and Associates stated, “[The uncertain economic times] present a challenge for the real estate companies to really work closely with the customers and really hold their hand through the entire process to make them feel more comfortable in the decisions. Keller Williams has set itself apart by performing high in all the areas that are most important to customers specifically with the agent, the offices, and the services that they provide.”

 

“Our agents go above and beyond to help their clients at one of the most personal times in their lives – when they are buying or selling a home. We are incredibly honored and humbled that our associates have been recognized yet again for their incredible levels of service,” says Mary Tennant, President of Keller Williams Realty, Inc.

 

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Disclaimer: Keller Williams received the highest numerical score among full service real estate firms for home buyers and home sellers in the proprietary J.D. Power and Associates 2012 Home Buyer/Seller StudySM.  Study based on 2,994 total evaluations measuring five firms and measures opinions of individuals who bought or sold a home between March 2011 and April 2012.  Proprietary study results are based on experiences and perceptions of consumers surveyed March-May 2012. Your experiences may vary. Visit jdpower.com

 

About Keller Williams Realty, Inc.:

Founded in 1983, Keller Williams Realty, Inc. is the second-largest real estate franchise operation in the United States, with 675 offices and almost 77,000 associates across the globe. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale, visit Keller Williams Realty online at (http://www.kw.com). Information about Keller Williams Realty’s international expansion can be found at (http://www.kwworldwide.com).