Four Tips for Effectively

Making an Offer

 

So, you’ve been searching for that perfect house to call a ‘home’
and you finally found one! The price is right, and in such a
competitive market, you want to make sure that you make a
good offer so that you can guarantee that your dream of making
this house yours comes true!

 

Here are 4 tips for your consideration:

 

1.  Understand How Much You Can Afford

 

While it's not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.

 

This step should really take place before you start your home search process, but not to worry if you’re already scouring the web for homes meeting your criteria.

 

Getting pre-approved will not only give you confidence as you make an offer, but will also show home sellers that you’re serious and that they can be likewise confident to take their home off the market pending closing your purchase.

 

You‘ll also need to know if you’re financially prepared to make any repairs that may be needed, e.g., new roof, new furnace. Every home, even new ones, require maintenance, though new homes are usually covered by a builder’s warranty.

 

2.  Act Quickly

 

A glance at current market reports will demonstrate that inventory is well below the 6-month supply that constitutes a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for the most attractive ones.

 

Work with your agent as soon as you identify the right property to prepare and present an offer promptly.​

 

3.  Make a Solid Offer

 

Because there may be multiple offers, my best advice is to put your best foot forward on your initial offer, because you may not get a chance to resubmit. I’ll help you make your offer stand out.

 

4.  Be Prepared to Negotiate

 

You may get a counteroffer from the sellers. The two things most likely to be negotiated are the selling price and the closing date. Given that, you'll be glad you did your homework first to understand how much you can afford.

 

As your agent, I'll be at the center of the negotiation process, giving you guidance on the counteroffer and making sure that the agreed contract terms are met and deadlines observed.

 

If your offer is approved, your next steps are inspection by a licensed home inspector and deposit of your earnest money. If the inspector discovers undisclosed problems or issues, we’ll discuss repairs to be made by the seller prior to closing or we’ll terminate the agreement.

 

Bottom Line 

 

Whether you’re buying your first home or your fifth, having a local professional on your side who knows this market is your best bet in making sure the process goes smoothly.

​