Making an Offer

You’ve looked at a bunch of homes, and you’ve found the one! It meets all of your criteria, and you want to move in as soon as possible. What’s the next step? It’s time to make an offer.

Before writing an offer – and ideally before you even begin your search – meet with your bank or other financial advisor; the one who will be giving you your mortgage, and get pre-qualified or pre-approved. When it’s time to put forth an offer, the seller will know it’s serious.

KNOW THE NEIGHBORHOOD

List prices are often subjective. There’s no rule of thumb that says going in under asking is expected. Keep in mind that homes will also occasionally be underpriced to attract multiple offers. Talk to your BHGRE Metro Brokers sales associate to determine a pricing strategy.

SELLER INTERESTS

Asking the right questions prior to writing an offer can often make the difference between an accepted offer and a stalled negotiation. Some contract terms may be of great significance to the seller, whereas only a slight inconvenience for you.

MAKE A STRONG DEPOSIT

You'll want to submit an earnest money deposit when writing an offer. Even when delivering an offer below asking price, submit a large deposit if possible, and it will pay dividends in the end. A higher deposit will most likely strengthen your negotiating power.

SELLER RESPONSE

Time is of the essence once you decide to take the plunge. Typically, the seller is given until 5pm on the third day from receipt of the offer to respond, unless you write in a different date and time. If the offer is strong, speed up the response time. Your BHGRE Metro Brokers sales associate can advise you on what strategy will work best.