When to Make an Offer
So you have 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!
How Much to Offer
We will sit down and look at recent sales and current buyer activity in the area, as well as 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.
Recent Sales
Comparable properties sold in the last 3-6 months in the same neighborhood
Current Buyer Activity
Market competition and demand levels in the area
Property Condition
Current state of the home and any needed repairs or updates
Submitting an Offer
Put Your Best Foot Forward
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
Put Down a Healthy Earnest Deposit
A large earnest money deposit shows the seller you are serious about purchasing their home.
Cash Talks
A transaction that is not dependent on receiving loan approval is more attractive to a seller.
Shorter Inspection Periods
Try shortening the inspection period to 10 days to show confidence in the property.
Offer to Close Quickly
Many sellers prefer to close within 30 days for a faster, smoother transaction.
The Process
After you submit an offer, the seller has several options:
Accept the Offer
The seller agrees to your terms and you move forward to the contingency period.
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:
You can negotiate back and forth as many times as needed until you reach an agreement or someone chooses to walk away.
Offer is Accepted - Congrats!
The seller will counter-sign the purchase agreement and you are now officially under contract. This period of time is called the contingency period. Now inspections, appraisals, or anything else built into your purchase agreement will take place.
Ready to Make Your Offer?
Let's work together to craft a competitive offer that gets you the home of your dreams.