Home Offer Writing – Make an Offer

When you find the perfect Main Line home, you need to make an offer. As long as youโ€™ve already gotten your preapproval letter, youโ€™re positioned to get the house of your dreams.

All About Home Offer Writing

The first thing you need to do when youโ€™re interested in buying a home is determine the price youโ€™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; thatโ€™s a great jumping-off point for you.

Generally speaking, you should make your offer less than youโ€™re really willing to pay. You can expect the seller to want to negotiate the homeโ€™s price, so building yourself a little wiggle room is a good idea.

When you make the offer, youโ€™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, youโ€™ll make your initial deposit on it (thatโ€™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:

  1. The seller accepts it, agreeing to all of your terms.
  2. The seller makes a counter-offer, which can change the amount of money or the terms.
  3. The seller rejects your offer outright.

The seller has a limited amount of time to respond, so if you havenโ€™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 โ€œWeโ€™ll 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.

Letโ€™s Get You Moving

Call us at 610-608-3119 or contact us online so we can start your custom home search. Weโ€™ll be happy to help you find the perfect place in the Main Line area, and weโ€™ll be there with you through writing the offer and beyond.

 

Links:

Donโ€™t Forget Your Preapproval Letter

Negotiating a Price

 

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