Karen Montgomery | Venice Real Estate, Casey Key Real Estate, Sarasota Real Estate

Shopping for a home is a long, arduous process. When you finally find one that you love, think you can afford, and spend the time to formulate an offer, it can be crushing when your offer is rejected.

However, getting rejected is simply part of the process. If you’ve ever applied to college, you might be familiar with this process. You send out applications that you poured your heart and soul into. Sometimes to get accepted, other times you don’t.

Making an offer on a home comes with one big advantage over those college applications, however--the opportunity to negotiate. As long as the house is still on the market after your offer is rejected, you’re still in the game.

In this article, we’re going to talk you through what to do when your offer is rejected so you can reformulate your plan and make the best decision as to moving forward.

1. Don’t sweat it

One of the most common fallacies we fall into as humans is to think the outcome is worse than it really is. First, remember that there are most likely other houses out there that are as good if not better than the one you are bidding on, even if they’re not for sale at this moment.

Next, consider the rejection as simply part of the negotiation process. Most people are turned off by rejection. However, you can learn a lot when a seller says no. In many cases, you can take what you learned and return to the drawing board to come up with a better offer.

Don’t spend too much time scrutinizing the seller’s decision. Ninety-nine percent of the time their decision isn’t personal. You simply haven’t met the pricing or contractual requirements that they and their agent have decided on.

2. Reconsider your offer

Now it’s time to start thinking about a second offer. If the seller didn’t respond with a counteroffer it can mean one of two things. First, they might be considering other buyers who have gotten closer to their requirements. Alternatively, your offer may have been too low or have had too many contingencies for them to consider.

Regardless, a flat-out rejection usually means changes need to be made before following up.

3. Making a new offer

This is your chance to take what you learned and apply it to your new offer. Make sure you meet the following prerequisites before sending out your next offer:

  • Double check your financing. Understand your spending limits, both on paper and in terms of what you’re comfortable spending.

  • Check comparable houses. If houses in the neighborhood are selling for more than they were when the house was previously listed, the seller might be compensating for that change.

  • Make sure you’re pre-approved. Your offer will be taken more seriously if you have the bank’s approval.

  • Remove unnecessary contingencies. It’s a seller’s market. Having a complicated contract will make sellers less likely to consider your offer.

4. Move on with confidence

Sometimes you just can’t make it up to the seller’s price point. Other times the seller just can’t come to terms with a reasonable price for their home. Regardless, don’t waste too much time negotiating and renegotiating. Take what you learned from this experience and use it toward the next house negotiation--it will be here sooner than you think!

Let's face it – you're tired of your current living situation and are ready for a change. Luckily, there are many homes available in your area – you just need to find a residence that fits your needs and budget. The homebuying process sometimes can become time-consuming and exhausting, but we're here to help you take the guesswork out of finding a residence and ensure you can discover your dream home quickly and effortlessly. Here are three tips that you can use to speed up the homebuying process: 1. Get Pre-Approved for a Mortgage. Why should you look at homes you cannot afford? Instead, you can get pre-approved for a mortgage and search for residences that suit your budget perfectly. Many lenders are available that offer financing for homebuyers nationwide. As a result, you may be able to evaluate a variety of lenders to ensure you're able to get the lowest interest rate on your mortgage. Before you begin your home search, get pre-approved for a mortgage – you'll be happy you did! And remember, if you are pre-approved for a mortgage, you may be able to improve your chances of a home seller accepting your offer over others (i.e. from homebuyers who still need to get financing) as well. 2. Employ a Home Inspector. After you submit an offer for a residence, you'll want to hire a home inspector who can evaluate this property to the fullest extent. A home inspector serves as an unbiased third-party who possesses the experience and know-how needed to evaluate a residence. Therefore, this inspector will be able to identify any problem areas before you buy a house. With the right home inspector at your side, you can boost your chances of finding the right home without delay. This inspector will empower you with the insights you need to make an informed homebuying decision, one that could deliver significant benefits both now and in the future. 3. Work with a Real Estate Agent. Although you'd like to find a home as quickly as possible, you may lack the time and resources needed to fully review the real estate market. By hiring a real estate agent, however, you can streamline the process of exploring the real estate market in your area. A real estate agent will collaborate with you, learn about your wants and needs and provide information about residences that match your preferences. This professional can even set up home showings and keep you up to date about open houses in your area. Thus, your real estate agent serves as a dedicated housing market resource and will do everything possible to ensure you can find the perfect home. You'll likely discover a broad assortment of real estate agents available in cities and towns across the United States. And to find the right real estate agent, you'll want to meet with this professional and make sure you're comfortable working with him or her as you embark on your search for your dream residence. Take advantage of the aforementioned tips, and you should have no trouble accelerating the homebuying process.

This listing recently sold for $265,000.

20171 RAGAZZA CIR #102, VENICE, FL 34293  

Sale Price
Fully furnished and move in ready! NO BUILDERS CLOSING COST! The Hibiscus is an open and bright cozy Coach Home on the 1st level and that features beautifully decorated furnishings just like a model home. The 3 bedrooms are a pleasing split plan. The 2 full luxurious bathrooms are over sized. The Master suite boasts his and hers walk-ins to keep everyone organized and happy. The laundry room is conveniently placed near the garage. The Large screened-in lanai offers an airy sanctuary with your peaceful lake view. There are numerous upgrades including: *Crown molding *Designer lighting in all bathrooms *Lighting in all walk-in closets *Exterior entry point lighting *GE® Energy Star® side-by-side refrigerator *GE® Energy Star® space saver microwave *GE® Energy Star® smooth cook top range *GE® Energy Star® dishwasher *Badger V in sink food disposal system *His and her vanity counters with separate sinks in master bath *42” plate mirrors in all bathrooms *Luxury raised height raised panel wood cabinetry and vanities *Recessed medicine cabinets with a beveled edge mirror *Designer faucets/Shower heads are water sense products *Roman tub in master bathroom **All upscale amenities included without the upscale price**

For those who are planning to list a luxury home in Miami, Orlando or any other Florida city or town, it helps to understand how to price a residence. That way, you can establish a competitive initial asking price for your Sunshine State luxury residence and boost the likelihood of a fast, profitable home selling experience.

Now, let's take a look at three tips to help you price your Florida luxury house.

1. Perform a House Inspection

A house inspection generally is requested by a homebuyer after a seller accepts an offer to purchase. Yet conducting a home inspection prior to listing a Florida luxury residence may prove to be beneficial, particularly for a seller who wants to maximize the value of his or her property.

During a home inspection, a property expert will examine all aspects of a Florida luxury residence. The property expert then will provide a homeowner with an inspection report that details his or her findings.

Ultimately, a home inspection enables a seller to identify any underlying problems with his or her Florida luxury residence. A seller next can use this report to prioritize home improvements. And once these improvements are completed, a seller can enhance his or her Sunshine State luxury home's value before adding this residence to the housing market.

2. Review Housing Market Data

The luxury housing market varies across Florida. For example, a luxury home in Jacksonville may be priced less than a comparable luxury residence in South Beach. Or, a luxury residence in Tampa Bay may prove to be more expensive than a similar luxury house in Gainesville.

As a home seller, you should allocate time and resources to learn about the local real estate market. If you analyze a broad collection of housing market data, you can narrow the price range for luxury houses in your city or town and price your residence accordingly.

3. Hire a Real Estate Agent

If you are unsure about how to price your Florida luxury residence, there is no need to stress. In fact, you can hire a real estate agent who possesses Sunshine State luxury housing market expertise to get plenty of help throughout the property selling journey.

A real estate agent understands that no two Florida luxury houses are exactly alike. He or she first will learn about your Sunshine State luxury residence and find out what makes your house unique. Then, a real estate agent will help you establish a competitive initial asking price for your Florida luxury home and start showcasing your residence to prospective buyers.

Of course, a real estate agent will make it simple to streamline the Florida luxury home selling journey too. He or she will host open house events and home showings, negotiate with a buyer's agent on your behalf and much more. And if you have concerns or questions at any point during the home selling journey, a real estate agent will address them immediately.

Take advantage of the aforementioned tips, and you can set a competitive initial asking price for your Florida luxury house.