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.
Your Frisco Buyer's Agent or Frisco Real Estate Agent should be able to discuss these options further with you.
You have picked the wrong lender
Online dot com lenders and big banks providing mortgage services are notorious for not closing on time, for providing pre-approval letters to buyers without the required due diligence and for last minute conditions that either delay or cause the deal to go south leaving the sellers in a bad situation. In a competitive market where a seller has multiple offers, presenting a letter from a big name bank or an online lender moves you to the bottom of the seller's list of potential buyers. Your Frisco buyer's agent should have recommended some reputable local lenders with a good track record for getting pre-approval before you start the home search process
You are not putting the best foot forward when submitting the offer for home for sale in Frisco
Sellers typically request a best and final offer and give a deadline to submit an offer in a multiple offer situation. Sellers expect the buyers to send in the best offer the buyers can. There are really no second chances in this market. Sellers generally will not counter the offers once they have received the offers and will usually pick the best offer available. So next time, offer the best terms you can to the seller when you submit the offer the first time.
You are waiting too long to submit an offer
Even though home sellers in Frisco may provide a best and final offer deadline, they may decide to pick an offer that comes in long before that deadline if they feel that the offer is a really good offer without waiting for other offers. It is not fair but it happens. So you want to make sure that you are among first buyers to visit the property and to submit an offer as soon as you can if you like the property.
These tips can all have an impact on whether a home buyer in Frisco has their offer accepted when there are multiple offers. It’s inevitable that in a multiple offer situation, there is going to be at least one loser. The most important tip of all, which isn’t listed above, is that a buyer has a great real estate agent working on their behalf who can help them submit a winning offer!
ADDITIONAL BUYER RESOURCES
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Choosing an experienced, qualified buyer’s agent in Frisco is an important step in buying the home you want at a price that fits. And, as we’ve shown, a buyer’s agent will help you get a home in this competitive market in Frisco. As a Frisco buyer’s agent, my mission is to deliver a seamless home buying experience for our clients by combining exceptional client service, hyper local market expertise, innovative technology and savvy negotiations. Wouldn’t you like to shorten the search, find your dream home in Frisco, and avoid stress? If so, give us a call today at (469) 269-6541.
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In this competitive sellers market in Frisco, You need a top Frisco real estate team and an experienced Frisco Buyers Agent to work hard for you and guide you through the home buying process. Our top Frisco Real Estate Agents are devoted to helping our clients find the right home, at the best price, and with a minimal amount of stress and disruption to their lives. Our goal is to find the home in Frisco that will make you happy and successful in real estate ownership.
When you hire us to help you buy your first home in Frisco, we want to know what you want and how much you can afford. We will find a way to merge these two priorities and find a residence you will enjoy owning for years. Starting with the first interview to determine your requirements to the moment we present the keys to your home in Frisco, we - top Frisco Real Estate Agents - will walk you through the complicated home-buying process in Frisco. We will share our expertise to educate you on the market and the process of buying a home, so you will be prepared to make the best choices and feel comfortable with all of your decisions.
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If you are planning to buy a home in cities like Frisco TX, Prosper TX, Dallas TX, Celina TX, Lewisville TX, Keller TX, Southlake, TX, Plano TX, McKinney TX, Allen TX, Plano TX, Coppell TX or Colleyville TX, contact us. Our excellent Home Buyer Real Estate Services provided by top Real Estate Agents will make buying your first home much easier and will make your Frisco TX relocation less stressful! Check out our Frisco Relocation Resources at http://www.nitinguptadfw.com/dallas-relocation-real-estate-agent