It hurts to be the one to tell your clients that their offer fell through; you don’t want to be seen as the bad guy, and you don’t want them feeling as though it’s the end of the road for them. So how do you handle the situation?
There are many reasons why their offer may have fallen through – now your job is to help your clients understand the possible causes.
The Offer was Too High
Yes, you read that right. But this one has some surprising logic – sometimes sellers will reject offers that are too high, simply because the house might not be appraised for that amount. In this instance, they try and avoid a possible appraisal nightmare and accept the lower offer.
Gave Too Much Information
Sometimes your client might accidentally have said too much to the seller – genuinely not knowing that what they were saying may have actually been offending the owner. For instance, if there was mention of a remodel when the home has been with the owner’s family for the past 5 generations.
The Timing was Off
Your client needs to move in within 60 days, but the seller hasn’t found a new home yet and already doesn’t feel as though the 45 day closing process won’t be long enough. It’s important to discuss timing with a seller before any offers are made to avoid wasted time.
Honestly, there are a variety of reasons your client may have lost on their offer – the seller could have decided to keep the house, or there may have just been a better offer. While it is an uneasy feeling to be rejected on a home, it doesn’t mean your client’s search isn’t over. Just shake it off and keep moving forward.