What to Expect When Making an Offer on a Home
You Found a Home You Like. Here’s How to Make an Offer.
Maybe you got lucky and the first home you toured was a perfect fit, or maybe you have viewed many homes to find the right one. Either way, eventually, with the help of your buyer’s agent, you will find a home that meets your needs and you will make an offer to purchase.
Before you write that offer, your buyer’s agent will have connected you with a lender to get pre-approved for financing, unless you are paying cash for the home. In today’s market, pre-approval is absolutely necessary to make a competitive offer. Sellers probably won’t even consider an offer unless they know you are financially ready and able to purchase.
With pre-approval in hand, you are ready to write an offer that sets you apart from the competition while still being appropriate given the current market conditions. How does that work? The key is your buyer’s agent and the steps they take to prepare, including the following:
- Your buyer’s agent will do a thorough market analysis of the home to compare it to similar homes in the neighborhood or area, taking into consideration the condition of the home. Using this comparable data, your agent will recommend an appropriate price range for your offer that is strong, yet reasonable given the current market conditions.
- Your agent will prepare the contract and supporting documents to create an attractive and complete offer that is easy to follow and understand for the seller and their agent. We could tell many stories about incomplete and sloppy offers that we have received on homes we have listed, and how eager buyers lost out because their agent did not do their best work to follow directions and meet expectations. That is not The Chad Wilson Group standard, and we pride ourselves on our level of professionalism and care for our clients. Our reputation in the industry and our volume of business speaks to the simply exceptional service we provide to each of our clients.
- Your buyer’s agent will follow up with the seller’s agent to make sure the offer was received and to answer any questions they might have. They will also confirm the timeline for offer review so you know when to expect a response. This additional level of communication sets the tone with the sellers that you are a serious buyer and will work to make the transaction as smooth as possible. Once again, working with a buyer’s agent from The Chad Wilson Group that has an industry reputation of being top of the class can make a difference. When seller’s agents tell their sellers that they have worked with The Chad Wilson Group before and our transactions flow smoothly and seamlessly to closing, it can set your offer apart from the pack.
- You can expect to receive one of three responses to your offer:
- Your offer is accepted. Hooray! As soon as all documents are signed by both parties, you are on your way to calling yourself a homeowner!
- The seller makes a counteroffer to your contract. With the help of your buyer’s agent, you will consider their counteroffer and either accept it, reject it, or counteroffer with something that works for you.
- The seller declines your offer. With the help of your buyer’s agent communicating with the seller’s agent, you may be able to make a different offer that is more appealing to the seller, if that works for your budget and circumstances, or move on to a home that better suits your needs.
Are you ready to get started? We are eager to help you and answer any questions you might have. Complete the form below and an agent will contact you shortly.