COMPONENTS OF A GOOD OFFER
- Find your dream house
Search the internet, attend open houses and talk with your real estate agent, who will be more than happy to help you house hunt.
- Figure out possibility based on the property cost
Determine if your budget covers the initial payment and make sure to factor in all variables such as property taxes, insurance, maintenance, and HOA dues.
- Ask your real estate agent for comps
Ask your real estate agent to create a compilation of similar houses that are currently on sale, to understand if the valuation of the property is fair.
- Determine your offer price, contingencies, and timeline
Price, contingencies, and timeline are some of the main factors that are decisive in a competitive real estate market. Make sure to ask your agent for their opinion on your offer.
- Draft and propose your offer
Ask your agent to draft a purchase and sale contract for you and sign it before submitting it.
- Sellers can either accept, reject, or counter your offer
The seller can either accept your offer and sign the purchase and sale contract, decline the offer and negotiations will end, or counter the offer to start the negotiating process.
- Deal is negotiated, done, and signed
If all goes well, you could become a homeowner in about 45 days.