When you find the perfect Main Line home, you need to make an offer. As long as you’ve already gotten your preapproval letter, you’re positioned to get the house of your dreams.
All About Home Offer Writing
The first thing you need to do when you’re interested in buying a home is determine the price you’re willing to pay. You (hopefully) asked your real estate agent to compare the home to recent sales in the same area so you could ensure the price was appropriate; that’s a great jumping-off point for you.
Generally speaking, you should make your offer less than you’re really willing to pay. You can expect the seller to want to negotiate the home’s price, so building yourself a little wiggle room is a good idea.
When you make the offer, you’ll also include any contingencies, or conditions that the seller must meet in order for you to go through with the purchase.
Once you make the offer, you’ll make your initial deposit on it (that’s called earnest money or a good faith deposit).
What Happens after You Write an Offer
One of three things can happen after you make an offer on a home:
- The seller accepts it, agreeing to all of your terms.
- The seller makes a counter-offer, which can change the amount of money or the terms.
- The seller rejects your offer outright.
The seller has a limited amount of time to respond, so if you haven’t heard anything within that time frame, you can assume that they have rejected your offer.
If the Seller Makes a Counter-Offer
If the seller chooses to counter your offer with terms of his or her own, such as “We’ll accept less money if we keep the washer, dryer and refrigerator,” or something of that nature, you have the option to accept or counter again.
Let’s Get You Moving
Call us at 610-608-3119 or contact us online so we can start your custom home search. We’ll be happy to help you find the perfect place in the Main Line area, and we’ll be there with you through writing the offer and beyond.
Links:
Don’t Forget Your Preapproval Letter
Negotiating a Price