4 Reasons Some Sellers Delay Accepting an Offer – A buyer might decide to add a deadline known as the time for acceptance to an offer. However, this doesn’t mean the buyer will respond immediately.
This response can be delayed for some reasons and here are five popular reasons why sellers delay accepting an offer.
The current market situation can lead to multiple offers which give room for sellers to delay in order to make an effective decision. The seller might be delaying a cash offer or an offer with fewer or shorter contingencies even after offering the full price.
If the current market is booming and gives room for multiple offers than usual, then the seller might delay in order to sell to the highest bidder. As a buyer, you need to present the highest offer from the start as there might be no room to change an offer.
A seller might be in doubt about an offer, which can lead to a delay in accepting it from such a person. Sometimes, the seller might delay in order for their agent to investigate the legitness of the offer before approving it. This delay can also be as the name on the offer does not coincide with the pre-approved letter. Or it could be that the offer is suspicious, like an offer from a person who has never viewed the home or gives a ridiculous price with no proof of funds.
Another reason is when a seller receives an offer the same day the seller lists the home. They might delay accepting a given time to reconsider their asking price, mostly to increase it. The seller can also be optimistic about receiving more added value offers since the home is already attracting offers on the first day. Another reason is when the seller is not expecting to move out so soon.
Seller is MIA
Most sellers are as busy as a bee in the real estate world, especially as an agent. Some sellers could be on vacation or holiday and forget to connect with their agent or review offers for their home listed for sale. This delay can also be a result of no phone or internet access in such a region. Or maybe juggling between caring for the kids and work has made reviewing offers about the listed home not possible or a priority for the seller.
Sometimes communication never reaches the seller, which means your offer was never received by the seller. Communication is a vital tool in the real estate world and sometimes can be obstructed by signals. Either the seller never received the offer from the buyer, or the buyer agents never received a reply from the seller’s agent.
It’s advisable to confirm with the seller or his agent after sending an electronic offer. The listing agent also needs to confirm if the buyer agent received the offer. Confirmation is key in this scenario to avoid miscommunication.
Final Thoughts on Delaying Accepting an Offer
Selling a home can be an emotional situation for some sellers, so an immediate answer would not be rendered. In most cases, sellers don’t appreciate the use of deadlines or ultimatums in terms of accepting offers. This made the seller treat the time of acceptance as a suggestion rather than a deadline. So, if your offer is delayed, you can contact the seller or the listing agent to know why.
PMD Realty Group has been providing professional home buyer and seller real estate representation since 2013. Our company values are service, honesty, integrity and work ethic. We always strive to exceed our client’s expectations. give us a call at 602.399.9233 if we can be of service in Goodyear, Litchfield Park, Buckeye, Avondale, Sun City, Surprise, Peoria and Glendale in the Phoenix West Valley.
We list and sell homes, property and real estate throughout the Phoenix Valley including Phoenix real estate, Scottsdale, Palm Valley, Pebble Creek, Wigwam, Verrado, Estrella Mountain Ranch, Tempe, Mesa, Cave Creek, Carefree, Chandler, Apache Junction, Gold Canyon, Maricopa, Gilbert & Maricopa County.