Houlihan Lawrence Inc.
Anna Teyssonniere de Gramont, Houlihan Lawrence Inc.
Email: [email protected]
Questions to Ask Before You Decline an Offer on a Home

by Anna Teyssonniere de Gramont 07/01/2018

What happens if you receive an offer on your home that fails to meet your expectations? Ultimately, you may want to decline the offer. But before you do, there are several questions you'll want to consider, including:

1. Is the offer "fair"?

Let's face it – one home seller's definition of a "fair" offer may differ from another's. However, an informed home seller will be able to differentiate a "lowball" offer from a strong proposal.

A lowball offer typically fails to account for a home's condition and the current state of the housing market. As such, this proposal may fall far below a home seller's initial asking price.

On the other hand, a strong proposal may meet or surpass a home seller's initial asking price. This offer likely accounts for a home's strengths and weaknesses, along with the needs of a both the homebuyer and home seller.

2. Are there any other offers on the table?

If you receive an offer on your home, you'll probably have one to two days to decide how to proceed. And if you have multiple offers in hand, you likely have a lot to think about in a short period of time.

In some cases, the best offer is not necessarily the highest offer, and for good reason.

For instance, a homebuyer may submit an offer on a home that exceeds a home seller's initial asking price. But if this homebuyer has not been pre-approved for a mortgage, he or she likely will need to obtain financing to proceed with a home purchase.

Conversely, a homebuyer who has been pre-approved for a mortgage knows exactly how much money is at his or her disposal. When this homebuyer submits an offer, he or she may be better equipped than other homebuyers to acquire a residence.

3. Can I afford to be patient?

Consider your timeline as you debate whether to decline an offer.

If you're in no rush to sell your home, you can afford to be patient with offers on your house. Or, if you want to relocate to a new address as soon as possible, you should price your home aggressively from the get-go.

4. If I decline an offer, what will happen next?

After you decline an offer on your home, the homebuyer has the option to submit a new proposal or move on to other houses.

As a home seller, it is important to take an informed approach to home offers. With a real estate agent at your side, you should have no trouble making the best decisions on any proposals.

A real estate agent understands the ins and outs of the housing market and can help you evaluate all offers on your residence. He or she can provide you with honest, unbiased real estate recommendations and ensure you can get the best results during the home selling journey.

Collaborate with a real estate agent – you'll be glad you did. A real estate agent will enable you to evaluate home proposals and maximize the value of your house.

About the Author

Author
Anna Teyssonniere de Gramont
About My Life Polish born, French by marriage, American Resident since 2004. I know first-hand the stress and excitement of moving. With my husband and our 3 children we lived in Warsaw (Poland), Versailles (France), Singapore (Singapore), Chesney (France), San Francisco (California) and now Scarsdale (New York). I have earned Master’s Degree in Business Administration from Warsaw School of Economics. After working for a number of years in Finance Department for BOC Gases in Warsaw and Singapore, I dedicated my life to raising my 3 children, supporting my husband and taking care of our multiple homes. Since we settled down in Westchester, I have been actively involved in my children's schools' life. I offered volunteer work to Lyceum Kennedy, French American School of New York (FASNY) as well as Thornton Donovan School in New Rochelle. Recently, we have adopted a dog named Teepee from Pet Rescue in Harrison. Besides English, I speak Polish (native), French and some basic Russian. About My Work Whether you want to sell, buy or rent, we will work as a team. I strongly believe communication is key in building our relationship. You should never hesitate to pick up your phone and call or text me. I will always do my best to get you an answer or point you to a reliable resource. In this very competitive business of real estate, satisfied clients are the key to my success. Let me show you what I can do for you. Selling a home is a very important decision. Some try to sell their home by themselves. It is understandable, but 80% of homeowners hire a professional in order to sell quickly and for the best price the market can offer. Real Estate agents constantly monitor their local market. I have seen countless houses in every price range in many neighborhoods in Westchester. This extensive experience, helps me price your home right for the current market condition. We will work together to prepare your home for sale and professional photographs. Houlihan Lawrence lends their angent the best marketing tools to advertise your home. I will manage the showings for you and help negotiate the best price. Give yourself the best chance to find a qualified Buyer, so you can quickly and smoothly move to wherever you wish to be next. Talk to a professional Realtor. Talk to me. Buying a home is one of the most important decisions in life and for most people the biggest financial commitment, too. There is more to buying real property than finding a pretty home on-line. It is a process. It may go smoothly, if you understand it well and come prepared. As your agent, I can offer guidance and market information you need. I will show all the houses you will want to visit. I will verify information provided on the listing, I will give you information about its history and similar houses sold in the neighborhood to help you negotiate. As your agent, I will always have your best interest in mind! Don’t give up the chance to have a professional on your side. My area of expertise is buying, selling and renting residential properties in Lower Westchester NY: White Plains, Rye, Harrison, Mamaroneck, Larchmont, New Rochelle, Scarsdale, Bronxville, Edgemont, Eastchester, Hartsdale, Hastings-on-Hudson, Dobbs Ferry, Irvington, Ossining and Yonkers