Simply finding your dream home can sometimes be only half the battle of buying a house. You may find that your offer, no matter how competitive relative to the market, gets rejected by the seller.
Sometimes a seller has a set price in mind, and are unwilling to negotiate a lower offer. This can be frustrating for buyers, and is often difficult to move past.
If you find yourself in this situation, there are a few things you can do to put the experience behind you and continue your search.
Don’t Overthink it
Even if you’ve analyzed the market and done the math on exactly what the house should sell for, it can be frustrating to have a seller reject your offer. Don’t spend time obsessing about why the seller won’t accept your fair offer.
Sellers can have any number of motivating reasons for standing firm on their price. They may have an emotional attachment to the home that is greater than the market value. They may believe that they can easily get the offer they want from another buyer. Whatever their reasons, it’s important not to take it personally, and don’t overthink their reasoning.
Make Your Best Offer
Negotiating is a tricky thing, and it’s not always easy. If your initial offer was turned down, the seller or the agent may be playing hardball in the hopes that you’ll counter with a larger offer.
Consider the best offer you’re willing to make, and then put it out there. If the seller is still unwilling to budge, it may be time to move on.
It’s Time to Move on
It’s unfortunate, but if your best offer is rejected, it’s time to move on. Buying a home is a process, and it’s not always short or easy. The best advice is to use this experience and learn from it. Once you find your home, you’ll look back on the house you “had to have” and realize that the home you ended up with is the better choice in the long run. Sometimes if it’s not meant to be, it’s not meant to be.