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
Rudden|Bobruska Team
Gary Rudden, Lisa Rudden, and Nick Bobruska
RUDDEN BOBRUSKA TEAM
What sets your team apart from other real estate teams?
There is no team out in the market that offers what we do. All of us are Realtors, but
we each have specialized roles, which make our team so unique!
After decades of living and selling real estate in the DMV, we have established
ourselves as one of the top real estate teams with our market expertise and
cutting-edge technology. Our savvy high-tech marketing is on every website
and social media source. We have a huge network with other top agents, which
helps to premarket homes and discover homes for buyers before they reach the
open market. Our services include professional in-house staging services, broker
expertise in negotiating and navigating contracts, and buyer representation in all
price ranges. Each client has different needs and we create a marketing plan based
on those needs.
Our most distinct feature is our in-house construction and renovation team. We
are literally a full-service, one-stop shop when selling or buying a home!
How does the in-house construction and renovation team work?
All work is managed and completed through our licensed and bonded construction
crew. No need to call outside contractors. We are like “HGTV,” but we just don’t
have a show! Whether it’s a small makeover or a major renovation, we do it all. Our
sellers love this aspect of our team because we make preparing your home for the
market so seamless. Our buyers love the advice and insight we can give for future
renovations and repairs.
Having a licensed Maryland Home Improvement contractor as part of our team
along with the knowledge, experience, commitment and services that we offer, truly
puts our team as a vanguard in the real estate industry.