Home buyers in Frisco real estate market today are confronting a double whammy of low inventory of homes in Frisco and increased competition from other home buyers in Frisco. This is resulting in multiple offer situations in Frisco and buyers are getting tired of submitting offers and getting rejected. If you find yourself in this situation, here are a few reasons that you are might be facing repeated rejection from home sellers in Frisco.
Your purchase contract submitted to the seller has mistakes
If you are working with an inexperienced real estate agent in Frisco, the purchase offer being submitted on your behalf may not be complete, may not be filled correctly, may be missing required addendums or may have incorrect information. Submitting an incorrect or half baked purchase offer in this market will result in your offer getting moved to the bottom of the offers that the seller is considering. The reason is that the listing agents in Frisco and the home sellers in Frisco want to avoid working with agents who do not seem competent in this market especially when they have multiple offers. Incomplete or improperly completed contracts can lead to legal issues for the seller during the transaction and there is no reason for a seller to put themselves in this position when they can choose who to work with.
The worst thing about this situation is that, as a buyer, you will never know why your offers keep on getting rejected!
Working with an experienced Frisco Buyer's Agent can help you avoid this trap and become successful in buying a home in Frisco in this crazy market with multiple offers on every home sale.
You are focusing on price only
Sales price of the home is only one of the variables that are considered by the seller in Frisco when making a decision about which offer to select in case of a multiple offer situation. Other things that are part of a strong offer include amount of earnest money, owner's title policy payment, lease back to the seller etc. Here is a list of some other factors that can be tweaked to make your offer stand out in case of a multiple offer situation.