Doug made some great points here! It's not always price. Sometimes buyers get a little carried away in the "buyer's market" and ask for everything And the Kitchen sink!
With the confidence that comes from writing a full price offer, the buyers assumed the house was "in the bag". After all, who would turn done a full price offer in this market? The rejection came as a greater shock than a Dallas Cowboy's Super Bowl victory. Let's examine some factors other than price that can cause an offer to be rejected.
1) A truckload of closing costs--Most sellers in the Pineville Louisiana real estate market expect to pay a portion of the buyer's closing cost. Paying points or giant origination fees will typically cause sellers to pause.
2) Requesting improvements over repairs-- During the inspection it is discovered that the 300 dollar dishwasher is about to give up its ghost. In its place should go a similar style/quality appliance. Demanding a silent, stainless steel model is a great way to kill a deal.
3) Requesting repairs for items that are not broke-- The plumber says the toilet is fine, Papa thinks it is leaking. Unless Papa is writing a check don't expect a new throne prior to closing.
4) A closing date measured in geologic time-- In the Pineville market sellers expect closing 30-45 days out. Your offer to close "before South America and Africa are one again" will probably be rejected.
5) Shell game financing--Sellers like to see mortgage commitment from stable financial institutions or cash offers. Letters contingent on a certain quarter horse winning the afternoon race (or even worse a lawsuit settlement) don't carry much weight.
Though important, price is only two lines on a 6 page purchase contract. The other terms can quickly make a "strong offer" pretty puny. Ready to purchase a home in Pineville, la? Call Doug Rogers with Bayou Properties Realty (318) 613-1994.
Doug Rogers
Associate Broker
Bayou Properties Realty
Search Homes in Lake Norman NC
SEARCH LAKE NORMAN FORECLOSURES
Sandy McAlpine, GRI, ABR, CDPE, SFR Broker,REALTOR Licensed in NC and SC
McAlpine Properties
(704) 746-7513
Lake Norman Homes
Copyright 2008-2012, ALL RIGHTS RESERVED, by the Author - Sandy Aichner McAlpine
I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.
Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!
