Home Buying in Tallahassee>Question Details

Archie Hill, Home Owner in Tallahassee, FL

I am currently searching for homes in florida and found the perfect one. i am deciding whether or not to place an offer...so heres my question...

Asked by Archie Hill, Tallahassee, FL Sat Mar 22, 2014

what if my offer is rejected?

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Archie,
They often are! But don't let that stop you. Now you begin negotiating. Your broker will help you. You may have to offer more money, but you may ask the seller to cover some or all of your closing costs or to make repairs that wouldn't normally be expected. Often, negotiations on a price go back and forth several times before a deal is made. Just remember - don't get so caught up in negotiations that you lose sight of what you really want and can afford! Hope this helps!

Elijah N.
Lic. TX RE agent
Gabali Realty®
1 vote Thank Flag Link Sat Mar 22, 2014
There are many things that could result as a consequence of making an offer to purchase.
1. Your offer could be ignored
2. Your offer could be countered at List Price + $1.000
3. Your offer could be countered at List Price - $1,000
4. Your offer could be countered excluding contingencies you included
5. Your offer could be countered adding conditions and terms
6. Your offer could be rejected with no comment.

Just to suggest there are many outcomes. The above 6 is not intended to be a exhaustive list.
Do you known what to do in each of the above situations?

It is time to consult with your REALTOR and develop the right purchase strategy for the property you like.

When your strategy finally pays off and you have an executed contract.....now YOU have to worry about the lender you choose. Did your lender give you a CLEAR-To-CLOSE loan commitment? You could be left at the buying alter by your lender.....after you spend you money on the inspection appraisal and have all your stuff on the truck. If you want to remove the lending uncertainty I can help.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Sat Mar 22, 2014
Hello Archie;

It is the job of a good Realtor to assist and guide you in making a good and realistic offer.
Also, it is necessary for financing to be arranged ahead of time since no offer will be accepted without proper documentation of ability of payment.
I am more than happy to explain and discuss all the necessary details at your convenience.
Call me any time at 850-745-4253

Have a great weekend.

Alexander
http://www.AlexSellsFlorida.com
0 votes Thank Flag Link Sat Mar 22, 2014
You make another offer, typically offers are not rejected but countered.
1 vote Thank Flag Link Sat Mar 22, 2014
First thanks for the question and yes its a very good one and i see where lenders dance around the subject or sugar quote it. So i thought i would give you the Fannie Mae Guidelines and show you who to read them. https://www.fanniemae.com/content/pricing/llpa-matrix.pdf So for argument sake lets say a mortgage of $200K with a base rate of 4.00% 700 Fico and 5 down payment leaving you Financing for $190,000.00 (see table 2 to compute) there is a 1% added to the rate. Making your rate now 5% also keeping in mind that there will be .875% charge for Mortgage Insurance PMI. (less than FHA). Should there be any question you are welcome to give me a call.

My only job is ensuring that you make the right choice for you and your family as this is my ultimate goal. I am committed to providing you with mortgage services that exceed your expectations. As always, you may contact me anytime by phone, fax or email for personalized service and receive expert advice from a Bank Mortgage Banker who is responsible for the decisions on all mortgages coupled with over 17 years of experience in the industry. I look forward to working with you! And making your dreams a REALITY
0 votes Thank Flag Link Sat Mar 22, 2014
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