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Buying a property is one of the biggest financial decisions you’ll ever make, and submitting an offer can feel both exciting and nerve-wracking. But what happens if your offer is rejected? While it’s not the outcome you hoped for, it doesn’t necessarily mean the end of the road. Sellers have three choices when reviewing an offer: Accept, Reject, or Counteroffer.
If yours isn’t accepted straight away, don’t lose hope—there are still plenty of options available.
Your first course of action should be to consult your solicitor, who will have submitted the offer on your behalf. It’s important to understand why your offer was turned down. Was it an outright refusal, or is there scope for negotiation? Some sellers reject offers outright, while others indicate they would consider a revised offer.
If the seller has counteroffered, it means they are open to adjusting certain terms—such as price, conditions, or completion date—to reach a mutually agreeable deal.
If there’s an opportunity to amend your offer, take a moment to assess your position. Would increasing your bid slightly make a difference? Could offering a more flexible completion date strengthen your case? Remember, it’s not always about offering the highest price—sometimes, other factors can make your offer more attractive.
Alternatively, the seller may have received a better offer or chosen a buyer in a stronger financial position. However, even if they have accepted another offer, there’s always the possibility that it falls through. If that happens, they may consider previous buyers as backup options. Staying in touch with the estate agent ensures you’re still in the running should circumstances change.
If this particular property doesn’t work out, try not to be too disheartened. The property market is constantly moving, with new homes coming up for sale all the time. You may even find another property that better suits your needs. Being flexible and ready to act quickly when the right opportunity arises can make all the difference in a competitive market.
At McEwan Fraser Legal, our property experts are here to support you every step of the way. Whether you’re a first-time buyer or a seasoned homeowner, we can offer professional guidance to put you in the best position when making an offer.
Thinking of buying a property? Let our Buying Experts guide you through the process with confidence. Contact us today!
McEwan Fraser Legal would be delighted to act on your behalf for the purchase of your next property.
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