It’s time to make an offer on the house you just love. What can you do to help your offer stand out?
- Talk to your agent about your offer price. She will check comparable sales in the neighborhood and help you determine how much to offer. Your agent will guide you, but ultimately the decision on price is yours.
- Find out what is important to the sellers. Your agent should reach out to the seller’s agent to find out what their preferences are. Would they like a quick closing because they are moving to start a new job? Maybe they prefer a shorter inspection period or a larger initial deposit. Ask about their needs and tailor your offer to meet them as much as you can.
- Be prepared for a counter offer from the sellers. Are you able to increase your price if necessary?
- Make sure you understand the HOA restrictions in the community before making an offer. Can you paint the home the color you want? Will your Pit Bull be welcome? Make sure the community will meet your needs.
- Review the contract with your agent to understand what you are signing. The contract is a legal document and will have obligations that must be adhered to. Make sure you understand what those are along with any contingencies in the contract.
- Determine your down payment and initial expenses. Besides your initial escrow deposit, you will need cash on hand to pay for inspections and appraisal fees.
- Carefully review the Sellers Disclosures and all information about the home. If you want something you see at the home do not assume it comes with the sale of the property. Make sure your agent includes these extra items such as the washer and dryer, storage shed, unattached kitchen island, etc., into the contract to be sure they stay behind.
- Carefully select your closing date, typically 30 to 45 days from the date the contract goes into effect is pretty standard. You want to provide enough time for the lender to approve the loan, the title agency to complete their title search and the seller to move out completely.
Following these guidelines along with advice from your Realtor® will help your offer get accepted by the sellers.