Make an Offer
So you've found the house. Congrats! In today's market when the demand is higher than the amount of homes available it is important to act fast!
Act quickly when you find the right home. In a competitive market, waiting even a day can mean losing out to another buyer. Trust your instincts and your agent's expertise.
How Much to Offer
We will sit down and look at:
- •Recent sales in the area
- •Current buyer activity in the market
- •The value of the property in its present condition
Putting all this information together, we will determine the price that you would like to offer.
Submitting an Offer
We will work together to discuss your options and create your very best offer. Depending on the circumstances, you may have only one chance to make a good impression.
Strategies We May Employ
A large earnest money deposit shows the seller you are serious about purchasing their home.
A transaction that is not dependent on receiving loan approval is more attractive to a seller as it reduces risk.
Try shortening the inspection period to 10 days instead of the standard 14-21 days to show commitment.
Many sellers prefer to close within 30 days. If you're pre-approved and ready, this can be a powerful advantage.
After You Submit an Offer
Accept the Offer
The seller agrees to all your terms and you move forward to closing.
Decline the Offer
This happens if the seller thinks your offer isn't close enough to their expectations to further negotiate.
Counter-Offer
A counter-offer is when the seller offers you different terms. If this happens, you can:
- •Accept the Seller's Counter-Offer
- •Decline the Seller's Counter-Offer
- •Counter the Seller's Counter-Offer
You can negotiate back and forth as many times as needed until you reach an agreement or someone chooses to walk away.
The seller will counter-sign the purchase agreement and you are now officially under contract. This period of time is called the contingency period. New inspections, appraisals, or anything else built into your purchase agreement will take place.