The journey of selling a house is a roller coaster. Each step comes with its own significance. When you receive an offer, it’s a thrilling moment for a seller. Offers indicate you’re one step closer to the finish line. However, not every offer will be in tune with your expectations. Refusing an offer is a delicate part of the process but is sometimes necessary.
Here are several polite ways to reject a house offer from a buyer.
Common Reasons to Refuse an Offer
The financial aspect is the primary reason many sellers consider refusing an offer. “The price is right!” Until it’s not… Unless you get a strong cash offer for your house, consider declining them until you get the right one.
Too Many Contingencies
Offers are just one piece of the puzzle. Many offers seem attractive at first. Sadly, most are entangled with numerous contingencies. These can range from exhaustive home inspections to complicated financial clauses. Certain bad offers can be contingent on the buyer selling their existing residence first. That’s a ton of steps to simply sell your property.
Buyer Financial Stability
The stability of a buyer’s finances is another key consideration when reviewing their offer. It’s understandable if sellers get concerned when a buyer is having trouble getting financing to purchase the home. All of these factors are great reasons to refuse an offer on your home. Being patient and waiting for the right offer can save you major headaches down the road.
Crafting a Respectful Decline Letter
Communication is key when trying to politely reject a house offer. Declining an offer that a buyer poured their heart and soul into is a delicate situation. Convey your decision to refuse the offer assertively yet with respect.
Initiate your letter with a heartfelt note of thanks. Expressing genuine gratitude for their interest in your property acknowledges the buyer’s efforts and investment. In life, most people just want to be heard! Consider involving your real estate agent to help you draft this letter to decline the offer. A real estate agent’s opinion is helpful when deciding how to reject a solid offer. Explain your reasoning politely to the buyers and they should understand.
Real Estate Offer Rejection Example
Coming up with a written rejection letter for an offer you receiving to buy your home is very challenging. There are so many things to say to the buyers. However, saying too much can actually make it work.
Here’s an example of a rejection letter you can use to mail or email buyers when you refuse a house offer:
“Dear [Buyer’s Name], I truly appreciate the interest you’ve shown in [property address]. After pouring over the details and deliberating extensively, I’ve chosen to pursue an alternative route concerning my property’s sale. I recognize and value the investment of time and effort you’ve put into this endeavor. As you continue your search for the perfect home, I genuinely wish you every success and hope you find a place that resonates with your dreams.”
You can also find templates for real estate rejection letters here. It’s worth rejecting an offer vs settling with one that doesn’t fit your needs.
Refusing a Home Purchase Offer: Proper Etiquette
Etiquette is crucial during the dance of real estate interactions. While declining an offer is a standard part of the home-selling process, maintaining a professional and considerate stance is hard. Humans are emotional beings. It’s easy to lose it and freak out! Be prompt in your responses when preparing to politely reject a home purchase offer. Respect the buyer’s time. Don’t string them along if you know you’re going to decline their contract.
- Engage in Face-to-Face Discussions
Some interactions are easier face-to-face. If you feel like you have a relationship with the buyer but still plan to reject their home offer, consider meeting them in person. Face-to-face dialogue can often provide clarity where email or text leaves room for misinterpretation.
When rejecting an offer in person, remain calm and professional. Actively listening to the potential buyer will create an environment of mutual understanding. Again, humans want to be heard. Hear out their side while gently declining their offer to purchase your house. Spend a few extra minutes to address any lingering questions they have.
- Handle Emotional Reactions with Empathy
The path of selling or buying a home is filled with emotional highs and lows. It’s a major life decision! If a buyer responds with an emotional outburst, approach the situation with empathy. Even if it’s from a nosy neighbor who offered to buy your property, empathize with them.
Recognize that their feelings might stem from a connection they’ve already established with your property. Hearing that their offer is rejected could completely crush them. A gentle approach can work wonders in alleviating tension when refusing to accept a house offer.
- Consider Counteroffers and Negotiations
A rejection doesn’t mean the dialogue is over. If the offer on the table seems promising, consider a counteroffer. The purchase agreement could have great terms but be slightly short on price. Ask the buyer if they’re covering your closing costs on the home sale. That could make their new offer more appealing and worthy of acceptance.
Reignite the conversation with the buyer through a counteroffer. If they are excited about your home, they may increase their offer after negotiations. Do your best to meet in the middle. Win-win situations happen all the time in real estate. Although you are going to reject their initial offer, they could come back with a better one that makes more sense for you.
How to Reject a Lowball Offer
It’s a sinking feeling when a lowball offer lands in your lap. You put a ton of hard work into your property! It’s a financial and emotional investment. There are memories tied to your home, which makes a lowball offer seem ridiculous.
Even when getting ready to reject a lowball offer, keep your cool and be respectful. When formulating a response, hold a poised and professional demeanor. The buyer might simply not have much money. Unfortunately, lowball offers are a part of the home-selling process. It’s common to receive them. When you do, reject the lowball offer with kindness.
PRO TIP: Homebuyers sometimes use low initial offers as a tactic. They are trying to gauge what price you’re willing to sell for. Oftentimes, lowball offers are the start of the negotiation (in their eyes). Be prepared to refuse their initial offer and negotiate back and forth until the price is right for you.
Rejecting a Buyer’s House Offer
When a house offer doesn’t align with a seller’s expectations, it’s time to courteously reject it. There is a myriad of reasons a seller will refuse an offer. The ball is in your court when selling your property. Don’t settle for an offer with unfavorable terms, price, or contingencies. Consider a counteroffer if the buyer seems flexible. If you and the buyer aren’t meant to be, politely reject the house offer and move on to the next one.