Making the offer
When you view a home on the market that you really want, you can hardly wait to be handed the keys. In fact, you may worry that the property will somehow slip through your fingers. Don’t be. You’ve got an expert by your side. Me. My job, as your real estate agent, is to ensure you get that home – and at a price that works for you.
The first step is preparing the Offer. This is the document I present to the seller that basically states the price you’re offering, as well as any conditions.
The price we go in with is critical. You want it to reflect the true market value of the property so the seller will take your offer seriously. On the other hand, you don’t want to go in too high and risk overpaying for the home.
Don’t worry. I know how to prepare a winning offer and get you the property at the lowest possible price. In fact, I look after your interests throughout the entire process
The 5 Things that Sellers Consider in an Offer
In order to make the strongest offer possible, here are the 5 areas that I will guide you through:
- Price. Obviously this is the main factor for most sellers. The price you offer is the sale price minus any seller help you ask for from the seller. An offer of $200,000 with 3% ($6,000) seller assistance is actually an offer of $194,000.
- Deposit money. This is not the deposit that you will put down on your loan. It is money that you put down when the offer is accepted. You will write out a check for the specified amount that will be deposited into an escrow account and credited back to you at settlement. If you break the contract without an acceptable reason, the seller will keep your deposit money for damages. We will talk about that in more detail when you make an offer. The more you are willing to put down for a deposit, the more comfortable the seller is that you are making a serious offer.
- Settlement Date. I will ask the listing agent about the motives of the seller to see if they have a certain timeline they need to meet for their move. Being flexible on the settlement date is best if possible.
- Type of Financing. Different types of financing require different requirements regarding repairs. Conventional financing is not strict on the condition of the home, where as FHA, USDA and VA financing all have strict guidelines for the condition of the home. The seller will usually let us know ahead of time if they are not offering certain types of financing.
- Contingencies. If you have a home that need to settle for you to proceed or if you ask for inspections on the property, these are things that the seller will also consider when looking over an offer. We will talk more about contingencies when you make an offer.
How the Process Works
When you decide to make an offer on a home, here’s what typically happens:
- I’ll recommend a price that has the best chance of being accepted by the seller, without over-paying for the home.
- Obviously, sellers prefer offers that have no conditions. However, I may suggest a condition, such as passing a professional home inspection, be included for your protection. We’ll talk about that.
- I’ll prepare the necessary documents and present your offer to the listing agent personally.
- If the offer isn’t accepted, or if the seller makes a counter-offer, I’ll work with the seller’s agent, skillfully negotiating on your behalf to make a deal. I will do everything in my power to ensure you get the home of your dreams.
- I’ll communicate with you throughout the entire process. You’re never in the dark when you work with me.
- Once the seller agrees to a deal, I’ll help lead you through the entire process and closing the deal. Then, the home is yours. Congratulations!
I realize that making an offer can seem like the nail-biting part of the process. It doesn’t have to be. That’s the advantage of selecting a real estate agent who, like me, puts clients first. When you go after a property you really want, you can take comfort in knowing you have an expert on your side… someone who knows how to get that home for you. When something comes up that doesn’t need your direct input, I will be handling that on your behalf so you can relax and concentrate on getting ready to move into your new home! I will keep you updated every step of the way and I am always available if you have any questions.
Have questions about making an offer? Please submit the form below or call or email me.