Buying a house is exciting

Making an offer on a house is an exciting step in the home buying process.

Having an experienced realtor is crucial to finding the best deals, negotiating terms and price, and understanding all of the necessary steps to follow.

What to expect when making an offer:

Counteroffers

If a seller accepts your offer, they will either move forward with the sale or propose a counteroffer. This is typically a change in the price, home purchase contract contingencies or closing date. You then have the choice to accept the counteroffer, deny it or negotiate another offer.

Signing the Contract

When you decide to make an offer and the seller accepts, they will take it off the market after signing a contract. This doesn’t necessarily mean you are obligated to buy; however, signing a contract is a benefit since you won’t need to compete with other buyers. Ensure that your contract has a way out of buying, especially if you haven’t had the home inspected yet.

Home Inspection

While you are deciding if you want to purchase the house, having it professionally inspected and appraised is an important step to determine the value and if it is an investment that you want to make.

While your real estate agent will usually help negotiate the pricing of the home, you may offer the same price that the seller is asking for. Whether you want to offer less than the asked amount, or even more, that is your choice.

The reason some may choose to offer more is if they are absolutely sold on the home and want to ensure that they outbid others who want the home as well. This is not as common; however, it is usually done when there is a hot market and houses are being sold quickly.

Considerations before making an offer:

The amount of your bank loan
How much you desire the home
Your real estate agent’s advice
The value of the home

Tony Puma is proud to provide expert advice for clients who are ready to make an offer. Ensure that you don’t miss out on any important steps and negotiate the best deal for your dream home with Tony Puma’s real estate services today.