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Why Did the Seller Reject an Offer for That Home?
Why the seller rejected an offer to buy a home is really not all that important but it doesn’t mean a buyer might not want to know. Moreover, it might be the buyer’s agent who is more curious about why than the buyer. In my earlier years of real estate, like back when Jimmy Carter was in office, I would often feel like I was helping a buyer’s agent by explaining how the buyer could do better next time, but over the years I’ve come to conclude that trying to help was about the dumbest thing I could do. It’s not my place to try to help. I’m just the listing agent.
First, it doesn’t matter why the offer was rejected, the fact is it was. It didn’t meet some sort of criteria. There could be a bazillion reasons why an offer could be rejected but after the seller has accepted another offer, there is nothing the rejected buyer can do but wait for that buyer to cancel. If the seller is so inclined, the seller could agree to sign a backup offer with the buyer but many sellers dislike backup offers. They often prefer to retain the freedom to respond to fluctuations of the real estate market in the event prices later rise.
Second, short of discrimination / violating Fair Housing Laws, the seller can reject an offer for just about any reason. Sometimes it’s a toss of the dice.
Maybe you could look at it like a point system. Offers need to meet certain points. There is price, of course, terms of agreement, length of escrow, type of loan, possession dates, lender reputations, buyer’s agent reputations, amount of earnest money deposit, even to how the offer is written — whether error free, and each carries weight. When I try to help a seller weigh an offer against others, we add up the positives and look at the negatives. A negative would be a possible bad situation or red flag that could prevent the escrow from closing.
The final choice is always the seller’s. Anything I were to disclose to a buyer’s agent about why their buyer’s offer did not measure up would be subjective on my part and could open my seller to a potential lawsuit, so I don’t go there. My lips are zipped. Yeah, I might know what the seller told me as to why your offer was rejected, but unless I am representing a buyer under those circumstances, which I am not, those reasons will never pass through my lips.
Why the seller elected to reject an offer is not the buyer’s business.
Call Elizabeth Weintraub, Broker #00697006, at 916.233.6759.
Does Quantum Entanglement Apply to Sacramento Buyer’s Agents?
It is interesting to note Einstein rejected the theory of quantum entanglement, and he was wrong.
Some of the conversations I’ve been having lately with buyer’s agents in Sacramento seem as bizarre as the actual weirdness of quantum entanglement. For those of you who haven’t spent much time pondering quantum entanglement, this is an instant thing that happens in the universe. No, I’m not talking about the life-on-a-blade-of-grass theory, derived from dropping acid in the ’60s; this is not that foo-foo stuff. This is science. It’s a real phenomenon.
It’s what happens when two particles mirror each other after an interaction. You’ve got this one particle, which could be a Sacramento buyer’s agent, and another particle, which could be, say, a San Diego buyer’s agent. These two agents meet and become entangled to the extent that if the Sacramento buyer’s agent skins her knee, the agent in San Diego feels the burn. You think this sounds like craziness, a movie plot, but it’s real.
Even Einstein pooh-poohed this as a paradox and said it was impossible, which was the version I heard when in school. But along the way, scientists in the physics community managed to prove that entangled particles truly exists. Regardless of the distance between the two, when change happens to one particle, it happens to both. I read about quantum entanglement in the news a few days ago and it blew me away. I bring this up now because my husband picked up a book at the library for me about quantum entanglement, which I’m very excited to begin reading.
Further, I should point out that although quantum entanglement might be old news to some of you, it’s not to me. Even though I’m an old person now, my inquisitiveness remains in full force.
While I am really not saying that agents share any sort of quantum entanglement, sometimes the similarities between agents amaze me. Over the weekend I received several offers that contained the requirement for a security deposit to be paid on a free rent back by the seller. That’s a new one on me, too. It’s fairly insulting, don’t you agree? To tell a seller she needs to pay a security deposit to the buyer on her own home, a place where she’s been living for years without destroying the property.
I know what the real problem is. The real problem is the buyer’s agent is not spending enough time educating the buyer. This is probably a situation that requires face-to-face dialogue and in-depth discussions to get buyers over that fact that many sellers expect a little break in today’s HOT HOT HOT Sacramento real estate market. That little break is to give them a week or more to move out without demanding rent or deposits. It speaks volumes to the seller. It tells the seller the buyer is completely serious about buying the home and isn’t planning to nickel and dime us to death.
It can be what entices a seller pluck that one offer out of multiples. If you’re thinking about selling a home in Sacramento, call Elizabeth Weintraub at 916.233.6759, and put 40 years of experience to work for you.
