How to Get Your Offer Accepted in a Tight Real Estate Market

It’s a tight real estate market across most areas of the country. The situation has led to frustration on the part of buyers who often find themselves beat out when it comes to making an offer or getting an offer accepted.

There isn’t a lot that can be done about getting an offer to the seller quicker than another buyer, other than to reduce the time you take to mull things over once you find the right house.

But, when it comes to getting an offer accepted, you actually have more control than you think.

With that in mind, here are three of the most common reasons offers get rejected outright—and what you can do about it.

The buyer isn’t putting enough skin in the game. The sellers may perceive your earnest money deposit is too low compared to the home’s value. They may feel you aren’t serious about going through with the transaction because it will be too easy for you to just walk away. If you aren’t sure what a reasonable amount would be, your real estate agent should be able to offer some guidance.

The buyer is asking for too many contingencies. Now, more than ever, it is important not to clutter up your offer with a lot of contingencies. A seller may even choose a lower offer because a higher one had too many requests. Consider whether there might be other ways to address some of the contingencies you are considering putting into the contract.

The offer is simply too low. It’s human nature to want to get “a deal” or leave room for negotiations.  But a market suffering from perpetual tight inventory is not a time for those strategies. In many instances, an offer is rejected outright because it is simply well below the seller’s expectation and they would rather just move on to another offer than try to negotiate higher. If you find a home that checks all or most of your boxes, make your best and strongest offer out of the gate.