Both offers were comparable in sale price, but one had an escrow that would close by the end of the month. The other offer needed 45 days. Mackessy said people sometimes wonder why their offer didn't get accepted, especially if they offered the full price. Mackessy said he tries to find out why an offer was rejected, but the seller isn't obligated to explain. Usually, the seller's decision has to do with an issue beyond the sale price, such as a lender requirement or work needed on the home that the seller doesn't want to do, he said.
Sellers often approach multiple offers with varying strategies.
Some sellers will take offers from buyers and counter one at a time, while others will take all the offers and counter them back at the same time. Many agents present the offers in person. Sellers can send multiple counters to buyers in whatever terms they want, and not necessarily with the same terms. Typically, the seller will send a counter unsigned to buyers. The buyers can sign and return the forms, but none is binding until the seller signs the form a second time.