You’ve had an offer, and maybe you even went back and forth with a round of counter offers, but what if you can’t agree on terms for a sale? In the local market here in Central Indiana, terms will often either be reached or a deal will fall apart within 2 rounds of counter offers. At this point, you have decided to reject the offer.
If you have not come to a satisfactory endpoint and one or both parties gives up or moves on, then what happens next is simple: you go back to showing the house actively and aggressively. In fact, your house has likely been active on the market throughout the time you were attempting to negotiate a deal- we do not pend a property until we have an accepted Purchase Agreement.
Back on the Market: What is Different Now?
The most notable difference in returning to the Showing stage may be that you are a little disappointed, but there is another important difference- we now know even more clearly what you are looking for in an offer that you can accept. We may now know more clearly that you really want 3 days of possession after closing. If so, we can add this to your listing as something we want future buyers to include on their first Purchase Agreement so that we don’t have to counter. Or we may know that you aren’t willing to leave your new awesome refrigerator. If so, we may tell you to buy a smaller and less expensive version and put it in the house now so that a future deal can’t fall apart over that cool fridge again. You get the point- we need to adjust to optimize our chance of coming to terms quickly with the next buyer.
What is Our Philosophy About Failing to Agree?
If you and your Realtor have done your job well, you are priced reasonably and you have a clear sense of your wants and needs for a successful transaction. Still, an offer has many moving parts. With each offer that comes in you and your Realtor will talk about what the “non-monetary variables” are worth. Some may be worth compromising for, others may not. Each offer should be given a very real try, because there is no guarantee how long you may wait to get another one. Still, at the end of the day, you may accept- or reject- any offer. Your Realtor should be a steadying sounding board for you as you consider any offer- to help you see the benefits and the costs of a yes OR a no.
More questions? Feel free to get in touch: