Ignite FB Tracking PixelWhy Your Offer Got Rejected - DJ Richmond
Why Your Offer Got Rejected

by DJ Richmond 02/07/2019

Once you decide to buy a home, you need to buckle in because you’re in for an emotional roller coaster. You need to be prepared for any type of situation. You’ll need to hunker down and save a significant amount of money for a downpayment. Securing the financing for your home will be at the top of your list. You just don’t want to find the home of your dreams only to find out that your offer is rejected, leaving you in a giant puddle of letdown. 


If you have already experienced the pain of having your offer rejected on a home, fear not. Below, you’ll find some of the most common reasons why offers get rejected and what you can do about it. 


You Can’t Afford The Home


If you try and get a house that you can’t afford, chances are that your offer will be rejected. You need to find a reasonable price point to shop for a home. Make sure that your real estate agent understands your budget and won’t show you homes that are above your budget. If you know you won’t be able to resist, you definitely shouldn’t risk finding a home that you love and is above your budget. 


There Was A Better Offer


Especially in highly competitive markets, it’s easy for bidding wars to arise. A “war” may be avoided if buyers offer an amount far above the asking price. You always want to keep your offer as close to the asking price as possible. Never assume that other buyers will bid lower than the asking price. If you think like a seller, you’ll have a better shot at getting the home of your dreams.     

 

Don’t Ask For Too Much


Nothing annoys a seller more than too many contingencies. Many buyers can get carried away here. It’s a good idea to speak with your realtor about the reality of what you hope to get in return for purchasing the home. Your agent can help you to figure out what’s a necessity to ask to be done in the home and what isn’t. 


You Didn’t Get Pre-approved


Getting that pre-approval letter is oh so crucial to finding the right home. The seller wants the process to go as smoothly as you do. That means you need to get pre-approved before you even head into the field to search for a home. Some sellers may also only consider bids made by buyers who have been pre-approved. 


If you do your research, you’ll be able to compete in any type of housing market. All you have to do is be prepared!  

  


To get your offer accepted on a home you love, you need to do your homework. As a buyer, you want to keep the needs of the seller in mind. Although you want the best deal for yourself, you're more likely to get a property that you want if you compromise a bit. 


About the Author

Author
DJ Richmond

DJ Richmond is a real estate agent who is known for his work at Gold Key Realty, which sets the gold standard of real estate. Since graduating from Suffolk University’s Business School, he has continued to hone his financial skills and focus on anything he can do to become a more effective support system for his clients whether they are buying a home or selling one. He has a knack for communicating with his clients in order to understand exactly what it is that they need and then devising a strategy for meeting those needs. Since teaming up with some of the top selling agents in Massachusetts, he has expanded into a leader of the real estate market in the Greater Boston community.

Having grown up in the Greater Boston community, DJ has worked hard to solidify his knowledge of real estate and to amass a base of information that applies to both residential and commercial properties. He involves his clients in every step of the buying and selling processes, ensuring that they are aware of what is going on and included in all the major decisions. Putting customer service at the center of the business, DJ Richmond has made himself into a role model for other real estate agents, operating on a set of principles from which others can learn.

Beyond all the basic services associated with his representation, DJ makes himself available for a variety of extras. These extras include breaking down the complexities of real estate investing for new buyers, teaching buyers how to analyze properties and add value to their properties, and teaching sellers how to generate more traffic to their property via marketing. He also provides the entirety of his finance knowledge and experience, avoiding the pitfalls most common to first-time buyers.

Whatever it is that you are looking to accomplish, DJ can help you. If you are looking to rent, buy, sell, or just learn about real estate, contact DJ Richmond today and see what your brightest future looks like. 

Testimonials - What People Say About DJ

DJ Richmond went over and above to both sell my home and buy a new home. He excelled in getting the word out to market my house. I was more than pleased with every aspect of selling my house. Everything he did from the listing, photography, advertising and open house was the best I could ask for.   When it came time for negotiations, DJ really did an awesome job. He knew what he was doing and could advise me on making the best decision for a smooth transaction. When buying a new home, he knew exactly what I was looking for and was able to find me the right place in a time when inventory is extremely low. It is evident that DJ has a very solid work ethic and was available to help answer my many questions whenever I needed him. There were many times that I depended on him to be the "go to" person to communicate between myself and both the buyers and sellers. He stepped up to the plate every time. I would highly recommend him!
-Kathy
DJ has a great, positive attitude and is incredibly responsive. I originally found him through a posting for an apartment, and he took the time to actually get to know us and our situation. During the apartment hunt (which was very off-season), he actually showed us how buying a home could be a   morepossible than we thought. He showed us a few houses, he got us linked up with a lender very quickly and easily, and we went through the approval process for a mortgage on one we really liked. 


We didn't end up making an offer at that time, but his knowledge of the process and the next steps was excellent. At no time did he pressure us, and when we told him we wouldn't make an offer and just wanted to stick to an apartment for the time being, he immediately went to work and found us an incredible deal on our current apartment. We will likely stay in this apartment until we give DJ a ring one of these days to go house hunting for real this time! We have kept in contact with DJ and he has even accompanied us to other open houses since. 
-Wes
DJ has been nothing less than a heaven sent. He was there through it all 24-7. He's not only a excellent real estate agent he turns out to be a true friend. Thanks DJ for being part of mine and Dave's life.
-Patti
My wife and I just closed on a home with DJ's help.  He was a pleasure to work with throughout the entire process.  He was quick to respond whenever we had a question about the process.  He is polite, knowledgeable, and a perfect mix of friendly and professional.  He went above and beyond   expectations to land us our first home, and we couldn't be happier with the experience.  I would recommend DJ to anyone who needed assistance with purchasing a home.
-Dan
My family and I have a mixed-use property and DJ helped us find tenants for both our commercial space and residential apartment. The commercial space was vacant for 6+ months and DJ came in with a stellar marketing plan and was able to find a well-established 20+ year business as a tenant with a long term lease and generated a higher rent than we had ever received in the past. Additionally, his unique, tailored marketing efforts led to 12+ applications for the 2 bedroom rental unit. It was rented in less than a week and for $300 more per month than the previous tenants. DJ was extremely knowledgeable about the local Danvers market and answered any questions I had. He was patient, smart, and tactical and I would highly recommend using him for your commercial or residential needs!
-Judy
DJ was fantastic to work with. I was expecting selling my first home to be extremely painful and drawn out. DJ made it easy and seamless. When we met and went through the listing he told me he would have it sold in one weekend an he was right! He knew exactly how to price and market my home for the area. He also was extremely helpful at guiding me in what needed to be done to get my house ready to sell without going overboard or delaying the process. When it came to accepting and offer DJ was great at negotiating with all the interested parties and getting me the right deal. Even with some push back from the buyers DJ was able to get them to come to the original terms they agreed to and even close early. I highly recommend working with DJ he was friendly, knowledgeable and made this whole process so easy.
-Laura
DJ helped me sell my home in Melrose this past Spring. We had multiple offers all above ask. DJ was very helpful throughout the entire process. He is very accessible and thorough with his research. He has lived in the greater Boston area throughout his entire life, so he knowledgeable in many neighborhoods. I would highly recommend DJ for any of your real estate needs!
-James
As a first time buyer DJ was incredibly helpful. He went above and beyond what was required of him to ensure that I got the exact property that fit my ramifications. The process took over five months before I found the right fit and he was there with me every step of the way. Any question I had he responded immediately with a well thought out answer of his expertise. He had a great understanding of the local market and advised me to hold back when it was a bad deal (we came across many). At the end of the day I could not be happier with the property I got and I owe a huge thanks to DJ for helping me get to exactly where I want to be. If it wasn't for him putting in the extra effort I may not own this property. I would hands down recommended DJ to any buyer looking for a well informed, responsive, and helpful real estate agent.
-Mike
DJ helped me purchase my first home in June 2016. I was a first time home buyer buying a multi-family property and DJ guided me seamlessly through the process. He attended multiple open houses and set up private showing for all the properties I wanted to view. He was extremely patient with all of   my questions, especially regarding the local real estate market & what houses were good investments vs. great investments! He informed me of the 203k rehab loan and put me in touch with multiple lenders and contractors to discuss my possibilities. Once my offer was accepted, DJ guided me through the closing process without a hitch. We even closed earlier than anticipated! Once the close was complete, DJ helped me rent out my tenant's unit in under a week. I highly recommend DJ for your real estate needs. He is filled with a wealth of knowledge and his passion for what he does truly shines through in every conversation we had. Thank you for making the purchase of my first multi-family home a huge success!
-Rebecca