You have been home searching for quite some time now, and you have finally picked out your dream home. However, as you make your way through the home buying process you find out that your offer was in fact rejected. Home offers are rejected for many reasons; low offer, low earnest money deposit, the listing agent has a dual-rate commission, or you have not met the seller’s demands. Read the home offer tips below so that you do not make the same mistake again.

Chances are that your home offer was too low. Many sellers are emotionally attached to their homes. For many it is a very emotional time and if you make a low offer on their home they see this as an insult. As a result they may even forget about your offer, thinking that you were not a serious buyer. Another common mistake when a potential buyer is making an offer is that they will offer a low earnest money deposit. In order, for the seller to consider you as a serious buyer, you need to show this in more ways than just expressing how much you lover the house. The best way to show the seller that you are serious about your offer it to provide at least $1000 earnest money deposit, which can even go up to 3% of the home’s sales price. If your deposit is lower than this then the seller will skip you and look for other interested buyers. Sometimes a seller will reject a buyer depending on whose agent is negotiating the home purchase, this is the case if there is a listing agreement. The listing agreement protects the seller’s agent whereby the seller’s agent agrees to reduce his commission if he gets to represent both the buyer and the seller. This means if your agent is the one negotiating then the seller will end up paying more as they will have to pay their agent more. Lastly, it could be that you have not met the seller’s demands. Typical seller demands include; specific financing terms, larger earnest money deposit, pushing back the closing date, a pre-approval letter from the lender, and etc. Therefore, if you do not meet this criteria then you risk being rejected.

Buying a home is a stressful time and if you have been rejected a few times, do not give up, learn from these situations and surely you will find the home that is just right for you.