Making an Offer on a Home: What to Expect and How Partnering with Me Will Help You Win
Making an offer on a home is a big step in the homebuying process. It's important to be prepared and to have a good understanding of the process before you make an offer.
Here's a step-by-step guide to making an offer on a home after you've been pre-approved for a mortgage:
1. Find a home you love.
Once you're pre-approved for a mortgage, you can start looking for a home. Be sure to take your time and look at a variety of homes before you make a decision. Consider your needs and wants, as well as your budget.
2. Submit your offer letter to the seller.
Once you've written your offer letter, you'll need to submit it to the seller's real estate agent. The agent will then present your offer to the seller.
Your offer letter should include the following information:
- The purchase price you're offering
- The earnest money deposit you're willing to put down
- The closing date you're proposing
- Any contingencies you have, such as a home inspection or financing contingency
- Any seller concessions you're requesting
3. Negotiate.
The seller may counter your offer, or they may accept it as is. If the seller counters your offer, you'll need to decide whether to accept their counteroffer, continue negotiating, or walk away from the deal.
If you're willing to negotiate, there are a few things you can do to try to get a better deal:
- Offer to increase your purchase price by a small amount.
- Reduce the amount of time you need to close on the home.
- Waive some of your contingencies.
- Request seller concessions, such as having the seller pay for closing costs or making certain repairs to the home.
Negotiating seller concessions
If we're able to get your Seller Concessions, this is what it may cover: Seller concessions are anything that the seller agrees to pay for or do on your behalf in order to close the deal. Some common seller concessions include:
- Paying for closing costs
- Making certain repairs to the home
- Buying down your interest rate
- Providing a home warranty
If you're interested in negotiating seller concessions, be sure to be specific in your offer letter about what you're requesting. And be prepared to walk away from the deal if the seller is unwilling to meet your demands.
6. Sign the purchase contract.
Once you've reached an agreement with the seller, you'll need to sign the purchase contract. This contract will outline all of the terms and conditions of the sale, including the purchase price, earnest money deposit, closing date, contingencies, and seller concessions.
Be sure to read the purchase contract carefully before you sign it. And if you have any questions, be sure to ask your real estate agent for clarification.
7. Close on the home.
Once the purchase contract is signed, your typical close of escrow is about 30 calendar days. This process involves signing all of the necessary paperwork and transferring ownership of the home from the seller to you.
Title will work with you on how to make your down payment deposit for the balance of the purchase price, as well as any other funds that are due, such as closing costs and prepaid taxes and insurance prior to closing.
Making an offer on a home is an exciting step in the homebuying process. But it's important to be prepared and to have a good understanding of the process before you make an offer.
By following the steps above, you can increase your chances of making a successful offer and winning over the sellers. And by partnering with me, you can be sure that your offer is competitive and that you have the best chance of getting the home you want.
Free Download: First-Time Homebuyer's Guide
To help you on your journey to homeownership, I am offering a FREE download of my First-Time Homebuyer's Guide. This guide covers everything you need to know about buying your first home, from getting your finances in order to finding the right home for you.
To download the guide, simply CLICK HERE. You will then receive an email with a link to download the guide.
Luis Flores, The Black Eyed Agent
If you're looking for a real estate agent who will provide you with knockout service, look no further than The Black Eyed Agent. I'm a seasoned professional with a proven track record of success in helping buyers find their dream homes in the Greater Phoenix Area.
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About this blog
As a seasoned real estate professional, I have a deep understanding of the local market and the latest trends. I can help you navigate the complex process of buying or selling a home with confidence.
Whether you're a first-time homebuyer or a seasoned investor, I have the knowledge and expertise to help you achieve your real estate goals. I'm also passionate about helping my clients find their dream home or sell their home for top dollar.
Luis Flores, Realtor® The Black Eyed Agent
Legacy Homes Real Estate Group
P: (951) 490-8078
E: Luis@theblackeyedagent.com
Keller Williams Professional Partners
7025 W Bell Rd, #10, Glendale, AZ 85308
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