Keller Williams Arizona Realty

A home seller's guide: Should you reject an offer?

by Maureen Tatum 09/15/2024

When should you consider declining a home purchase offer featured image

Embarking on the home selling journey is a huge undertaking which can be stressful at times. When an offer is submitted for your property, you may feel pressured to accept to keep the process rolling. However, it’s beneficial to review instances when it may be best to decline an offer, so you can maximize your earnings. 

Review the local housing market

The housing market in your city or town is a major factor in the property selling journey. If you're selling your residence in a buyer's market, you likely face steep competition, meaning you may have to make adjustments to the price of your listing or be more open to a variety of offers. 

Comparatively, if you're operating in a seller's market, there’s an abundance of buyers and a shortage of sellers in place. With these conditions it may be more beneficial to decline an undesirable offer as other potential buyers may submit a more favorable offer. 

Understand the strengths of your home 

Before listing your home, it’s vital to examine your home’s strengths and weaknesses to get a better understanding of how these may tie into the offers you may receive.  

For example, if your home is newly renovated and is located near popular attractions, it may be best to decline a low offer as these positive aspects of your home are more likely to draw in other potential buyers who may offer more. 

Consult a real estate agent

When in doubt, it’s best to consult a real estate agent, who can provide professional guidance on whether an offer is best accepted or left on the table. They can compare market trends and similar homes being sold in your area to help you determine if an offer is fair or falls short of expectation.  

Even though the decision to accept or decline an offer for your home can be tough, doing research and relying on expert advice can help guide your choice.



About the Author
Author

Maureen Tatum

I pride myself in providing exceptional customer service to my clients by responding back to them quickly and addressing their own unique needs. I have been involved in real estate in the Phoenix area for over 25 years and I look forward to helping you sell your home or finding you a beautiful new one. Unlike other realtors, I am also a licensed Real Estate Appraiser, which gives me a unique in-depth background and a more complete understanding of the industry. My goal is to make your transaction as seamless as possible, while minimizing any surprises along the way. I would love to hear from you, please call or text me at 602-750-8711.