Source: Point2Homes —
After a long search, you’ve finally found the home of your dreams. But, before you can relax, you need to make an offer that the seller won’t be able to resist.
Making an attractive offer is crucial, especially in a hot market. There’s a good chance that you won’t be the only buyer interested in the home, so your offer must stand out from the crowd.
However, it’s just as important to strike the right balance to ensure both parties are happy with the outcome. With that in mind, let’s take a good look at the key steps involved in making an offer on a home before checking out some of our top tips to ensure your offer is accepted.
Making an Offer on a House in 3 Easy Steps
Making an offer on your dream home takes a bit of planning and preparation. In fact, it’s essential to start crafting your offer before you’ve even found the home you want to buy. Fortunately, with a bit of forward thinking, you can create a fantastic offer in just three steps.
1. Be Prepared and Do Your Research
First, you’ll want to ensure that you’re only looking at homes you can afford. It’s no good finding your dream home only to realize that buying it is either beyond your means or would make you “house poor.” So, create a watertight budget before you even start searching.
With a budget in place, your next step should be to get pre-approved for a mortgage. This shows the seller that you are serious about buying the home and have the means to do so. Without being pre-approved, you’ll need to delay your offer while you secure financing.
Finally, research the local market when you’ve found the home you want to buy. Check out comparable properties to make sure that the sale price is fair or whether there’s a little wiggle room to negotiate.
2. Make Your Offer
With the preparation and research complete, you can confidently make your offer. However, bear in mind that your offer is a legally binding contract, and once you’ve made it, you can’t easily back out if it’s accepted. So, take your time and ask your real estate agent for advice.
The most common way to make an offer is in writing using a standard purchase agreement. You can easily find templates online, or your real estate agent can supply one.
As you fill out the form, it’s essential to be as specific as possible regarding your offer terms and leave no room for confusion. You’ll typically need to provide the following information:
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