Two and three years ago, buyers felt a lot more comfortable making offers under list price, because they assumed if sellers wouldn’t accept a certain price, sellers would at least send back a counter offer. Now that the Phoenix housing market is picking up steam, home sellers in most price ranges up to $1,000,000 – depending on the property’s condition and how competitively it is priced – are starting to receive multiple offers on their listings. This is causing some buyers to ask themselves, “Are sellers required to respond to offers?”
More specifically, “Are they required to respond to MY offer?”
The short answer is, unfortunately, no. But let’s look at why…
Although the long answer still starts with “No,” it may be helpful if I share a few reasons below we’ve seen Phoenix home sellers give for not responding to every offer they receive. We don’t necessarily agree with each reasoning, but we do believe that buyers and sellers can benefit from a greater understanding of each other’s thought processes.
As you can see, there are various reasons why Phoenix home sellers might not respond to offers. If you are thinking about selling your home, we’d be happy to tell you more about the contract negotiation process and what we, at The Hill Group, can do to get you the best offers possible. If you are thinking about buying a home, ask us to show you what we do to make your offer stand out so it gets accepted.