When you find the perfect Main Line home, you need to make an offer. As long as youโve already gotten your preapproval letter, youโre positioned to get the house of your dreams.
All About Home Offer Writing
The first thing you need to do when youโre interested in buying a home is determine the price youโre 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; thatโs a great jumping-off point for you.
Generally speaking, you should make your offer less than youโre really willing to pay. You can expect the seller to want to negotiate the homeโs price, so building yourself a little wiggle room is a good idea.
When you make the offer, youโll 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, youโll make your initial deposit on it (thatโs 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 havenโt 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 โWeโll accept less money if we keep the washer, dryer and refrigerator,โ or something of that nature, you have the option to accept or counter again.
Letโs Get You Moving
Call us at 610-608-3119 or contact us online so we can start your custom home search. Weโll be happy to help you find the perfect place in the Main Line area, and weโll be there with you through writing the offer and beyond.
Links:
Donโt Forget Your Preapproval Letter
Negotiating a Price